Braveheart Resources Inc. announced a private placement of 1,600,000 units with an issue price of CAD 0.075 per unit for proceeds of CAD 120,000 and and 6,250,000 flow-through units with an issue price of CAD 0.08 per unit for proceeds of CAD 500,000, for an aggregate gross proceeds of CAD 620,000 on November 18, 2022. Each unit consists of one common share and one common share purchase warrant that is exercisable into a common share at an exercise price of CAD 0.1125 per share for a period of three years. Each flow-through unit consists of one common share and one common share purchase warrant that is exercisable into a common share at an exercise price of CAD 0.12 per share for a period of three years.

All securities issued under the offering are subject to a statutory hold period that expires four months and one day from issuance. On the flow through portion of the financing, the company paid a cash commission of CAD 35,000 and issued 437,500 broker warrants. Each broker warrant entitles its holder to acquire one common share of the company at a price of CAD 0.08 for a 36-month period.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from five placees and two aggregate existing insider.