StageZero Life Sciences Ltd. announced a private placement of units issued for gross proceeds of CAD 177,000 on August 18, 2022. Each unit comprised of a $1,000 unsecured convertible debenture bearing interest at a rate of 8% per annum, having a term of 18 months from the date of issuance and is convertible into common shares at a conversion price of CAD 0.11 per common share and 9090 Common Share purchase warrants. Each Warrant is exercisable into one common share of the company at an exercise price of CAD$0.15 per Common Share for a period of 18 months from the date of issuance of the units.

Securities issued pursuant to the transaction are subject to a statutory hold period lasting four months and a day after the issuance of the securities.