TORONTO–(BUSINESS WIRE)–POSaBIT Systems Corporation (CSE: PBIT, OTC: POSAF) (the “Company” or “POSaBIT”), a leading provider of payments infrastructure in the cannabis industry, is pleased to announce that it intends to complete a non-brokered private placement of up to 3,107,142 units of the Company (the “Units”), at a price of $0.28 per Unit, for aggregate gross proceeds of up to approximately CAD$870,000 or USD$650,000 (the “Offering”) to fund the repayment of certain convertible promissor