Capitan Mining Inc. announced a non-brokered private placement of 15,000,000 common shares at a price of CAD 0.2 per common share for gross proceeds of CAD 3,000,000 on October 7, 2022. The transaction is expected to close on or about October 21, 2022. The transaction is subject to approval from regulatory authorities and TSX Venture Exchange.

The securities are being subject to four months and one day hold period.