BRS Resources Ltd. announced a private placement of unsecured convertible debentures for gross proceeds of CAD 200,000 on April 12, 2022. The notes will bear an interest rate of 8% per annum. Each note will have a maturity date of up to one year from the date the of issuance and can be convertible into common shares at a price of CAD 0.01 per conversion share. The company may pay finder's fee in the transaction in connection with the transaction in accordance with applicable laws. All securities issued will be subject to a statutory hold period expiring four months and one day after closing of the transaction. Closing of the transaction is subject to the receipt of all required regulatory approvals, including the receipt of a partial revocation order permitting the Offering.

On May 24, 2022, the company announced that the convertible debenture will now be convertible into units of the company. Each unit will consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional share at an exercise price of CAD 0.01 per warrant share for a period of one year from the closing date.