Zinc8 Energy Solutions Inc. announced a non-brokered private placement of up to 333,333,333 common shares at a price of CAD 0.015 per share for the aggregate gross proceeds of CAD 5,000,000 on September 26, 2023. Of this amount, a lead order for CAD 2,000,000, corresponding to 133,333,333 shares is expected. For the remaining CAD 3,000,000, the company intends to give existing shareholders priority for their subscriptions.

Finder's fees and commissions will be paid in connection with the Private Placement and follow Canadian Securities Exchange policies. The Company has received an offer for a lead order pursuant for the Private Placement and intends to complete the Private Placement in tranches, with the first tranche closing as soon as possible. All securities issued pursuant to the Private Placement will be subject to a hold period of 4 months and a day from closing of the Private Placement in accordance with securities laws.

The transaction is subject to several conditions including receipt of subscriptions and regulatory approval.