Coho Collective Kitchens Inc. announced a brokered private placement to issue 35,294,117 units at an issue price of CAD 0.17 per unit for the gross proceeds of CAD 5,999,999.89 on September 12, 2023. Each Unit will be composed of one common share and one-half Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire one additional Common Share at a price of CAD 0.25 per Warrant Share for a period of 36 months from the Closing Date.

The company has also entered into an agreement with lead underwriter Canaccord Genuity Corp. The company will pay a cash commission equal to 8.0% of the aggregate gross proceeds of the Offering payable in cash or Units, or any combination of cash or Units at the option of the Lead Agent and Common Share purchase warrants of the Company, exercisable at any time prior to the date that is 36 months from the Closing Date to acquire that number of Units equal to 8.0% of the number of Units issued under the Offering, at an exercise price equal to the Issue Price. On the Closing Date, the Company shall also pay the Lead Agent a corporate finance fee consisting of (i) CAD 50,000 in cash and 294,117 Units.

The Company expects to close the Offering on or about September 19, 2023, and the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange. The 4-Month Hold Units and all securities not issued pursuant to the Listed Issuer Financing Exemption will be subject to a hold period in accordance with applicable Canadian securities law, expiring four months and one day following the Closing Date.