Radient Technologies Inc. (TSXV:RTI) announced a private placement of a secured promissory note for gross proceeds of up to CAD 1,200,000 on October 28, 2022. The notes carry a coupon rate of 18% per annum and outstanding principal amount of the notes as well as any accrued interest may be converted into common shares of the Company at the option of the holder at a price of CAD 0.05. The notes will mature on September 30, 2023.

Securities issued under the transaction are subject to a statutory four-month hold period from the date of their issuance. Closing of the transaction remains subject to receipt of all necessary regulatory approvals, including final approval of the TSX Venture Exchange.