Braille Energy Systems Closes $400,000 Non-Brokered Private Placement

Braille Energy Systems Inc. has announced the completion of a non-brokered private placement of 4,444,444 units at $0.09 per unit. This offering has generated aggregate gross proceeds of $400,000 for the company.

Each unit includes one common share and one non-transferable common share purchase warrant. Each warrant allows the holder to purchase one common share at $0.10 within 24 months. If the trading price reaches CAD$0.35 for 10 consecutive days, the expiry date may be accelerated.

No commissions or fees were paid in connection with this financing. Net proceeds will be used for maintaining operations and general working capital. The offering is subject to TSX-V final approval and was sold to accredited investors under exemption requirements.

Insiders subscribed to half of the offering, at 2,222,222 units for $200,000. The transaction is exempt from MI 61-101 requirements as it does not exceed 25% of the company's market capitalization.