ABOUND Energy Inc. announced a non-brokered private placement of up to 5,000,000 units at an issue price of CAD 0.10 per Unit, to raise gross proceeds of up to CAD 500,000 on July 9, 2024. Each Unit will consist of one common share and one transferable share purchase warrant. Each Warrant will be exercisable to acquire one additional common share at an exercise price of CAD 0.20 per share for a period of one year from the date of closing of the Offering.

The first tranche of the Offering is expected to close by July 16, 2024 with up to 3,500,000 Units sold for gross proceeds of up to CAD 350,000. Finder's fees and/or commissions may be paid in connection with that funding. All securities issued pursuant to the Offering will be subject to a hold period of four months and a day from the closing date in accordance with securities laws.

Insiders are expected to participate in the Offering. The closing of this Offering remains subject to several conditions including receipt of subscriptions and regulatory approval, if required.