Carolina Rush Corporation announced that it has entered into an agreement with Paradigm Capital Inc. to act as lead agent and sole bookrunner, on behalf of a syndicate of agents to be formed, in connection with a best efforts private placement offering to issue 15,000,000 units at an issuer price of CAD 0.20 per Unit for the gross proceeds of CAD 3,000,000 on March 18, 2024. Each Unit will consist of one common share and one-half of one Common Share purchase warrant. Each full Warrant will entitle the holder thereof to purchase one Common Share at a price of CAD 0.30 for a period of three years following the closing of the Offering.

In addition, the Agent have been granted an option to sell up to 2,250,000 additional Units for additional gross proceeds of CAD 450,000. The Offering is expected to close on or about April 3, 2024 and is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The securities issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the offering.