Arctic Fox Ventures Inc. has entered into an agreement with respect to a non-brokered private placement of 1,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 100,000 on April 7, 2022. Each unit shall consist of one common share and one share purchase warrant. Each warrant shall entitle the holder thereof to purchase one additional common share at an exercise price of CAD 0.12 per share for a period of two years.

The transaction is subject to approval of all necessary regulatory approvals including approval of the CSE. The securities issued are subject to four months and one day hold period.