RDARS Inc. announced a non-brokered private placement of 20,000,000 units at an issue price of $0.05 per unit for gross proceeds of $1,000,000 on January 19, 2023. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant shall entitle the holder to acquire an additional common share at a price of $0.06 for a period of 36 months following the closing of the offering.

The offering is fully subscribed for by an institutional investor. The offering is expected to close on or about January 27, 2023, or such other date or dates as may be determined by the company. Closing shall be completed in a single tranche of funding.

Completion of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the receipt of regulatory approvals, and the approval of the Canadian Securities Exchange. All securities issued under the offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws.