Jasper Commerce Inc. announced a non-brokered private placement of up to 20,000,000 units at a price of CAD 0.025 per unit for gross proceeds of up to CAD 500,000 on October 5, 2023. Each unit is comprised of one common share in the capital of the company and one half of one common share purchase warrant, which, combined with another half Warrant, is exercisable into one common share at an exercise price of CAD 0.05 per warrant share for a period of 24 months from the date of issuance. Closing of the offering is intended to occur in one or more tranches with the first tranche expected to close on or around October 27, 2023.

Closing is subject to approval by the TSX Venture Exchange. The transaction may include participation from certain investors. The offering is expected to be exempt from the formal valuation and minority shareholder approval requirements .