Blockmate Ventures Inc. announced a non-brokered private placement of up to 16,000,000 units at the price of CAD 0.05 per unit for gross proceeds of up to CAD 800,000 on June 2, 2023. Each unit consists of one common share, and one common share purchase warrant exercisable to acquire a further common share at a price of CAD 0.075 within 36 months of the closing date. Completion of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.

The TSXV has not approved the Offering Price and this remains subject to change. The common shares will be subject to a statutory hold period of four months plus one day from the closing date, in accordance with applicable securities legislation. No commission, finder's fee or similar payment will be paid by the company in connection with the transaction.

The transaction is expected to close on or about June 9, 2023