Butte Energy Inc. announced a non-brokered private placement to issue 1,250,000 units at an issue price of CAD 0,20 per unit for the gross proceeds of CAD 250,000 on April 26, 2023. Each unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to acquire an additional common share of the company at a price of CAD 0.30 per share for one year from the date of the closing of the transaction.

The transaction is subject to regulatory approval.