Cosa Resources Corp. announced that it has entered into an agreement on a commercially reasonable efforts for the private placement to issue 2,857,200 hard dollar units at an issue price of CAD 0.35 per hard dollar unit for gross proceeds of CAD 1,000,020 and 7,767,000 charity flow-through units at an issue price of CAD 0.515 per charity FT unit for gross proceeds of CAD 4,000,005 for aggregate gross proceeds of CAD 5,000,025 on May 30, 2023. Each hard dollar unit will consist of one common share plus one-half of one common share purchase warrant.

Each charity FT unit will consist of one flow-through common share plus one-half of one warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of CAD 0.50 for 24 months following the completion of the offering. The units will be subject to the statutory hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

The company has agreed to grant the agent overallotment option, exercisable in whole or in part by Haywood, at any time up to 48 hours prior to the closing Date to sell up to an additional number of Units, in any combination of Hard Dollar Units and/or Charity FT Units, equal to 15% of the total Units issuable pursuant to the Offering at the respective issue prices. The offering is expected to close on or about June 21, 2023. The company will pay to the agent a cash commission of 6% of the gross proceeds raised in respect of the offering.