EGR Exploration Ltd. announced a non-brokered private placement of 8,000,000 units at an issue price of CAD 0.11 per unit for the gross proceeds of CAD 880,000 and 8,000,000 flow-though units at an issue price of CAD 0.14 per unit for the gross proceeds of CAD 1,120,000, aggregate gross proceeds of CAD 2,000,000 on April 4, 2023. Each unit shall consist of one common share and one-half of one common share purchase warrant and each flow-through unit shall consist of one flow-through common share and a half warrant. Each warrant will be exercisable by the holder thereof to acquire one common share at a price of CAD 0.22 for a period of 36 months following the closing date of the transaction.

The transaction may include participation from insiders. 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 transaction is expected to occur in mid-April, 2023, and is subject to receipt of all necessary regulatory approvals, including the TSX Venture Exchange.

The company will pay 6% to the finders fees to the eligible finders.