Baroyeca Gold & Silver Inc. announced a non-brokered private placement of 12,440,000 units at a price of CAD 0.05 per unit for total gross proceeds of CAD 622,000 on December 15, 2022. Each unit consists of one common share in the capital of the company and one non-transferable share purchase warrant, each such warrant entitling the holder to acquire one additional common share at a price of CAD 0.10 per share for one year. The securities issued pursuant to the transaction bear a legend restricting them from trading until June 15, 2023.

The transaction remains subject to acceptance for filing by the TSX Venture Exchange.