Element79 Gold Corp. announced a non-brokered private placement of 1,739,130 units at a price of CAD 0.23 per unit for the gross proceeds of CAD 399,999.9 on March 11, 2024. Each unit will comprise one common share of the company and one common share purchase warrant.

Each warrant will be exercisable for one common share at a price of CAD 0.35 per common share for two years from the date of issuance. In accordance with applicable Canadian securities laws, all securities issued pursuant to the financing will be subject to a statutory hold period of four months and one day from the date of issuance. The closing of the financing is subject to the approval of the Canadian Securities Exchange.