Xtract One closes $11.5-million bought deal

An anonymous director reports XTRACT ONE CLOSES $11.5M BOUGHT DEAL PUBLIC OFFERING Xtract One Technologies Inc. has closed its previously announced bought deal public offering conducted by a syndicate of underwriters led by Stifel Canada. Pursuant to the offering, the company issued an aggregate of 15,334,100 units at a price of 75 cents per unit for aggregate gross proceeds of $11,500,575.00, which includes the full exercise of the overallotment option granted to the underwriters. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable into one common share until Nov. 10, 2028, at an exercise price of 95 cents. In connection with the offering, the underwriters received a cash fee of $690,034.50 and 920,046 common share purchase warrants. Each underwriter's warrant is exercisable into one common share at an exercise price of 75 cents until Nov. 10, 2028. Xtract One intends to use the proceeds of the offering for working capital and general corporate purposes. About Xtract One Technologies Inc. Xtract One Technologies is a leading technology-driven provider of threat detection and security solutions leveraging AI to deliver seamless and secure experiences. The company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing and delivering improved "walk-right-in" experiences while enhancing safety. Xtract One's innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. About threat detection systems Xtract One solutions, when properly configured, deployed and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today's world, no threat detection system is 100-per-cent effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security. We seek Safe Harbor.