Angel Wing Metals Inc. announced a non-brokered private placement of minimum of 20,000,000 and maximum of 23,636,363 common share units of the company at a price of CAD 0.11 per unit, for minimum gross proceeds of CAD 2,200,000 and maximum gross proceeds of CAD 2,600,000 on March 30, 2023. Each unit will consist of one common share of the company and one-half warrant. Each full warrant will be exercisable for a period of two years from issuance at a price per common share of CAD 0.25.

The transaction will include participation from certain insiders. The transaction is subject to a statutory 4-month hold from the date of issuance. The transaction is subject to the receipt of all necessary approvals including the approval of the TSXV and applicable securities regulatory authorities.

No fees are payable in the transaction.