Butte Energy Inc. announced a non-brokered private placement of 1,500,000 units at CAD 0.07 per unit for gross proceeds of CAD 105,000 on March 24, 2022. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional common share at a price of CAD 0.10 per share for five years from the date of the closing.

The transaction is subject to regulatory approval.