Xebra Brands Ltd. announced a non-brokered private placement of up to 8,000,000 units at a price of CAD 0.075 per unit for gross proceeds of up to CAD 600,000 on February 15, 2023. Each unit consists of one common share and one half of one warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.10 per share at any time within 18 months after closing.

All securities to be issued in the transaction will be subject to a 4 month and one day hold period. The transaction is subject to receipt of all required regulatory and CSE approvals. The transaction is expected to close on or around March 1, 2023.

The company may pay finders' fees in cash or securities, or a combination of both, as permitted by the policies of the CSE.