Hypercharge Networks Corp. announced a non-brokered private placement of up to 4,761,904 units at an issue price of CAD 1.050 per unit for aggregate gross proceeds of up to CAD 4,999,999.2. Each unit will be composed of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 1.35 per warrant share for a period of 36 months from the closing date of the transaction.

In connection with the transaction, the company may pay certain finders a cash commission in accordance with NEO Exchange policies. The company is expected to close the transaction on or around April 11, 2023. The transaction is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the NEO Exchange.