CVR Medical Corp. announced a non-brokered private placement of approximately 3,333,333 units at an issue price of CAD 0.03 per unit for gross proceeds of up to CAD 100,000 on April 12, 2022. Each unit consist of one common share and one transferable share purchase warrant to acquire an additional common share for a term of five years from issuance at a price of CAD 0.05 per share.

Subject to approval by the TSX Venture Exchange upon acceptance of the Company's application for a discretionary waiver of the CAD 0.05 minimum pricing requirement. The common shares and warrants will be subject to a four month hold period under applicable securities laws in Canada and the rules of the Exchange. The Offering may be closed in one or more tranches, the first tranche is expected to close on immediately following conditional approval of the Exchange, subject to customary closing conditions, including the approval of the Exchange.