37 Capital Inc. announced a non-brokered private placement to raise an aggregate gross proceeds of CAD 500,000 on August 8, 2022. The company will issue 10,000,000 units at issue price of CAD 0.04 per unit for gross proceeds of CAD 400,000 and 2,500,000 flow-through units at issue price of CAD 0.04 per unit for gross proceeds of CAD 100,000. Each unit consists of one common share and one share purchase warrant.

Each warrant can be exercised to purchase additional common share at price of CAD 0.05 per share for a period of 5 years from closing of the transaction. The company may pay finders fees and there may be participation of certain insiders in the transaction. All the securities to be issued shall have a hold period.

The transactions are subject to approval from Canadian Securities Exchange.