Codebase Ventures Inc. announced a non-brokered private placement of units at a price of CAD 0.07 per unit for gross proceeds of up to CAD 2,000,000 on February 23, 2022. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CAD 0.09 for a period of two years from the date of closing, subject to the option of the Company to accelerate the expiry date in the event that its shares trade at CAD 0.15 or more for 10 consecutive days.

On the same date, the company has issued 13,199,999 units for gross proceeds of CAD 923,999.50 in its first tranche. The company paid CAD 31,200 in cash and issued 445,714 warrants on the same terms as noted above to a qualified finder. The securities issued pursuant to this tranche are subject to trading restrictions until June 24, 2022.