Playgon Games Inc. announced a non-brokered private placement of 5,000 unsecured convertible debentures at a price of CAD 1,000 for gross proceeds of up to CAD 5,000,000 on November 30, 2023. The debentures are expected to mature on May 3, 2025 and each debenture will bear simple interest at 10% per annum. Holders of debentures will also be entitled to convert the principal amount of the debentures at any time on or prior to the maturity date into common shares at a price of CAD 0.05 per common share.

Closing of the proposed offering is expected to occur as soon as reasonably practicable, and remains subject to the approval of the TSXV and the board of directors of the company. The proposed offering also remains subject to customary closing conditions for transactions of this nature.