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ThreeD Capital Increases Its Investment in Nirvana

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Vancouver, British Columbia--(Newsfile Corp. - May 31, 2022) - Nirvana Life Sciences Inc. (CSE: NIRV) ("Nirvana" or the "Company") is pleased to announce that ThreeD Capital Inc. has increased its investment in Nirvana. The Company announces that it has completed a non-brokered private placement of 500,000 units at a price of $0.30 per unit, for net proceeds of $150,000.00. Each unit consists of one share and one warrant to purchase a share at a price of $0.50 per share with an expiry date of May 29, 2025. The Shares issued will be subject to a statutory four-month hold period.

The Company is also settling outstanding indebtedness of $154,500 to two service providers with the issuance of 309,000 common shares in the capital of the Company at a deemed price of $0.50 per share. The shares issued pursuant to this debt settlement are subject to a statutory four-month hold period.

For more information, please contact:
Bruce Clark, CEO
Telephone: (604) 401-8100
Email: info@nirvanalifescience.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain "forward-looking statements", which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126060