Snowy Owl Gold Corp. announced that it has entered into a non brokered Concurrent subscription receipts purchase agreement for private placement of up to 20,000,000 subscription receipts at a price of CAD 0.05 per subscription receipt for gross proceeds of CAD 1,000,000 on February 23, 2023. The subscription receipts will automatically convert into on common share and one warrant.

The company may pay finder's fees to EMD Financial Inc. consisting of cash fee of up to 10% of the gross proceeds raised, warrants entitling the dealer to purchase up to 5% of the total number of common shares issuable pursuant to the offering, at an exercise price of CAD 0.05, for a period of thirty-six months from the closing date and common shares equal to up to 5% of the total number of common shares issuable pursuant to the offering. The securities issued are subject to CNSX venture exchange approval.