Capella Minerals Limited announced a non-brokered private placement of up to 33,000,000 units at a price of CAD 0.03 per unit for gross proceeds up to CAD 990,000 on June 13, 2023. Each unit shall consist of one common share in the capital of the company and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of CAD 0.06 per share at any time within two years from the date of issuance. The warrants shall also be subject to an accelerated exercise clause in the event the company's share price exceeds CAD 0.15 for 10 consecutive trading days.

The transaction will include participation from an existing European-based shareholder with a focus on the metals required for the green energy transition, for CAD 400,000. The company may pay finders fee's in either cash, shares, share purchase warrants or a combination thereof, as permitted by regulators, on a portion of the transaction. The transaction is expected to close on or before June 25, 2023.

All securities issued under the transaction will be subject to a hold period of four months from the date of issuance.