Athabasca Minerals Inc. announced a non-brokered private placement of 7,375,000 common shares at a price of CAD 0.20 per share for gross proceeds of CAD 1,475,000 on December 1, 2021. The transaction will include participation from existing investor JMAC Resources Inc. which will increase its holding from 7,930,323 shares to 15,305,323 shares. All securities issued in connection with the Private Placement will be subject to a statutory four-month and one-day hold period under applicable Canadian securities laws.

The transactions is subject to receipt of all necessary regulatory and other approvals, including the final approval of the TSX Venture Exchange.