Aztec Minerals Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.30 per unit for gross proceeds of up to CAD 3,000,000 on May 16, 2022. The transaction will include participation from Alamos Gold Inc. Each unit consists of one common share and one warrant exercisable to purchase an additional common share at an exercise price of CAD 0.40 for a two-year period following the closing of the transaction.

The company will pay finders fees in cash or warrants on certain portions of the financing, subject to regulatory approvals. The closing of the transaction is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued pursuant to the transaction are subject to a four-month hold period under applicable Canadian securities laws and the policies of the TSXV, as applicable, commencing on the closing date of the private placement.