Tevano Systems Holdings Inc. announced a non-brokered private placement of up to 500,000 units at CAD 0.10 per unit for gross proceed of up to CAD 50,000 on September 21, 2023. Each unit will consist of one common share in the capital of the company and one transferrable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of CAD 0.20 for a period of 24 months from the closing of the offering.

The company may pay a finder?s fee within the amount permitted by the policies of the Canadian Securities Exchange. Closing of the transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE. All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The offering is not subject to a minimum aggregate amount of subscriptions.