Avila Energy Corporation announced a private placemen to issue 80,000,000 units at an issue price of CAD 0.03 per Unit for gross proceeds of up to CAD 2,400,000 on June 14, 2024. Each Unit is comprised of one common share and and one-half common share purchase warrant. Each full Warrant entitles its holder to purchase one additional common share at a price of CAD 0.12 for a period of 24 months following the closing. The Company may proceed to close in multiple tranches. The Company may pay finder?s fees on a portion of the Private Placement, subject to compliance with the policies of the Canadian Securities Exchange (the ?CSE?) and applicable securities legislation. Certain insiders of the Corporation may acquire Units in the Private Placement. The
securities issued pursuant to the Private Placement will be subject to a four-month-and-one day
statutory hold period in accordance with applicable securities law.