VIP Entertainment Technologies Inc announced that it has entered into an agreement for Investor Relations with Outside The Box Capital in a non-brokered private placement of 2,500,000 units at a price of CAD 0.25 per unit for gross proceeds of CAD 625,000 on March 6, 2023. Each unit consists of one common share and one-half common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.50 per share for a period of one year.

The transaction included participation from certain management and directors for 438,800 units for gross proceeds CAD 109,700. All securities issued pursuant to the private placement are subject to a four month and one day hold period. The closing of the transaction is subject to all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.