EGR Exploration Ltd. announced a non-brokered private placement of 15 million units at an issue price of CAD 0.06 per unit for the gross proceeds of CAD 900,000 on November 30, 2022. Each Unit is comprised of one common share and one non-transferable common share purchase warrant. Each full Warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.12 per share for a period of three years from the closing of the offering.

The Company may elect to accelerate the expiry of the Warrants in the event the closing price of the Common Shares on the TSX Venture Exchange (ôTSXVö) equals or exceeds CAD 0.24 per common share for thirty (30) consecutive trading days, in which case the Warrants will expire 30 days after the date on which the Company provides written notice of acceleration. The company paid finder's fees up to 7% in cash will be paid to eligible parties .All securities issued with respect to the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws. The closing of the offering is expected to occur in mid-December, 2022, and is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange.