July 28, 2025
Earthworks Industries Inc. (the “Company”) wishes to clarify details of its recently closed financing announced in previous News Releases dated April 1 and July 23, 2025. On April 1, 2025, the Company initiated the sale of up to 7.5 million Units at $0.05 per unit, for $375,000, with a Warrant entitling the purchase of one additional share of the Company for $0.10, exercisable for 2 years, subject to acceleration should the Company’s share price close at or above 20 cents for 20 consecutive trading days.
On May 22, 2025, a first tranche was announced to close 5,270,000 Units for gross proceeds of $263,500. The second tranche closing of 2,500,000 Units for gross proceeds of $112,500, resulted in an oversubscription for a total of 7,520,000 Units and total gross proceeds of $376,000. The funds raised are for operating and working capital.
The placement included sales to four Directors of a total of 2,370,000 Units.
With respect to the Unit sales, the Company paid finders fees or commissions of 8% cash on some of the placements, totaling $10,600.
All securities issued as part of the placement will be subject to a hold period in Canada of four months.
The placements are subject to acceptance for filing by the TSX Venture Exchange.
For further information, contact:
Earthworks Industries Inc.
David Atkinson
President/CEO
604-669-3143
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.