Baselode Energy Corp. announced a private placement on best-effort basis to issue up to 3,700,049 units of the company at a price of CAD 0.405405 per unit for gross proceeds of up to CAD 1,500,018.345, up to 4,166,667 flow-through units of the company at a price of CAD 0.48 per FT unit for gross proceeds of up to CAD 2,000,000.16, up to 6,666,667 FT units to be sold to charitable purchasers at a price of CAD 0.60 per Charity FT Unit for gross proceeds of up to CAD 4,000,000.2; for the total gross proceeds of CAD 7,500,018.705 and the company also announce Non brokered private placement to issue 1,386,183 flow-through units at a price of CAD 0.48 for proceeds of CAD 665,367.84 on September 25, 2023. Each unit will consist of one common share of the company and one half of one common share purchase warrant. Each flow-through unit consists of one flow-through common share of the company and one-half flow-through common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of CAD 0.60 at any time on or before that date which is 24 months after the closing date of the offering. The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the closing of the offering, to sell up to an additional 1,666,667 Charity Flow-Through Units for additional gross proceeds of up to CAD 1,000,000. The transaction is expected to close on or around October 16, 2023 and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.

On the same day, the company amended the terms of the transaction. The company will now issue 3,700,049 units of the company at a price of CAD 0.405405 per unit for gross proceeds of up to CAD 1,500,018, up to 5,208,333 flow-through units of the company at a price of CAD 0.48 per FT unit for gross proceeds of up to CAD 2,500,000, up to 8,333,333 FT units to be sold to charitable purchasers at a price of CAD 0.60 per Charity FT Unit for gross proceeds of up to CAD 5,000,000 for the gross proceeds of 9,000,018. Each whole warrant shall entitle the holder to purchase one common share of the company at a price of CAD 0.60 at any time on or before that date which is 24 months after the closing date of the offering.