Canasil Resources Inc. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.055 per unit for gross proceeds of up to CAD 550,000 on August 24, 2022. Each unit will consist of one common share and one half of one non-transferable share purchase warrant. Each warrant will entitle the purchase of one common share at a price of CAD 0.08 for a period of 36 months following the closing of transaction.

The closing price of the companyÆs shares exceeds CAD 0.15 per share for a period of 20 consecutive trading days, The company may pay finder's fees with respect to all or part of this transaction. The terms of the transaction are subject to acceptance by the TSX Venture Exchange.