VSBLTY Groupe Technologies Corp. announced a non-brokered private placement of units at a price of CAD 0.05 per unit on July 11, 2023. Each unit will comprise one common share and one share purchase warrant.

Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 0.075 cents per warrant share for a period of 48 months from the closing date of the transaction. In addition, the company may complete a concurrent private placement of units pursuant to applicable prospectus exemptions under NI 45-106 for gross proceeds of up to an additional CAD 2,500,000. Such units will be subject to a four-month-and-one-day hold period following the closing date of the concurrent placement.

In connection with the offering, the company will pay finders' fees of up to 7% of the gross proceeds raised by the company from the sale of units to subscribers directly introduced to the company by eligible finders. In certain cases, where agreed by the applicable finder, the company may pay such finders' fees in shares at a deemed issuance price of CAD 0.05 per share. In addition, the company will issue to eligible finders non-transferable finders' warrants of up to 7% of the number of units sold in the offering.

Each finder's warrant will entitle the holder to acquire one share at a price of CAD 0.075 per share for a period of 24 months from the date of issuance. The company will pay Echelon Wealth Partners Inc.a corporate finance fee of CAD 30,000 in connection with the offering, of which CAD 15,000 will be payable in cash and CAD 15,000 will be payable in shares at a deemed issuance price of CAD 0.05 per share. The offering may close in tranches.

The first tranche of the offering is expected to close on or around July 18, 2023, or such earlier or later date that the company may determine. The offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals.