The Limestone Boat Company Limited announced that it will raise a private placement of 120,000,000 subscription receipt at a price of CAD 0.05 for aggregate gross proceeds of CAD 6,000,000 on April 12, 2023. Each subscription receipt will convert into one common share. All securities issued will be subject to a hold period expiring four months and a day from the date of their issuance.

Each of the proposed restructuring and the private placement remains subject to all applicable approvals, including those required from the TSX Venture Exchange and under corporate and securities laws.