Chakana Copper Corp. announced a non-brokered private placement of up to 63,636,363 units at a price of CAD 0.11 per share for gross proceeds of CAD 6,999,999.93 on May 19, 2022. Each unit consists of one common share and one-half of one share purchase warrant.

Each warrant will entitle the holder to acquire one additional share at a price of CAD 0.20 per share for a period of 24 months from the date the units are issued. The company may pay finder's fees on some portion of the transaction. The transaction is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange.

The company will issue securities pursuant to exemption provided under Regulation D.