Breef Inc. announced that it will issue 1,238,984 series A-1 preferred shares at an issue price of $0.779 per share and 1,820,478 series A-2 preferred shares at an issue price of $2.0255 per share and 3,917,979 series A-3 preferred shares at an issue price of $3.0628 per share for the gross proceeds of $16,652,533 on October 17, 2022. The shares are convertible and non-redeemable. The shares will be convertible into common shares at a fixed price of $0.779, $2.0255, and $3.0628 per share respectively.

The par value of shares is $0.00001. The company will issue securities pursuant to the exemption provided under Regulation D.