Frequency Exchange Corp. announced a private placement of up to 3,333,333 units at a price of CAD 0.15 per unit for gross proceeds of up to CAD 499,999.95 on April 17, 2024. Each Unit is comprised of one common share and one common share purchase warrant having an exercise price of CAD 0.25 per warrant and a term of 24 months from the date of closing of the Private Placement.

In the event that, during the 24 month period following the closing date, the volume-weighted average trading price of the common shares on the TSX Ventures Exchange is at least CAD 0.40 per Common Share for any period of 10 consecutive trading days, the company may, at its sole option, accelerate the expiry date of warrants to the date that is not less than 21 days following the date upon which notice of the accelerated expiry date is provided by the company by way of news release. Finders' fees of up to 6% cash and 6% finders' warrants, having the same terms as the warrants, may be paid if applicable in respect of the private placement closing. The private placement is subject to TSX Venture Exchange approval and all securities issued will be subject to a four-month hold period.