Clarity IOT announced a brokered private placement of subscription receipts to Must Capital Inc. at a price of CAD 0.10 for gross proceeds of a minimum of CAD 2,000,000 and maximum of CAD 2,500,000 on September 13, 2022. Each subscription unit can be converted into a unit, consisting of one share and one half of a warrant. Each unit can be exercised at a price of CAD 0.15 for two years from the date of issue.

The securities are being subject to four months and one day hold period. The company will pay the agent a 9% cash fee.