EDM Resources Inc. announced a non-brokered private placement of up to 3,000,000 hard dollar units at a price of CAD 0.50 per unit for the gross proceeds of CAD 1,500,000 and up to 250,000 flow through units at a price of CAD 0.60 per unit for gross proceeds of CAD 150,000 for aggregate proceeds of up to CAD1,650,000 on March 1, 2023. Each hard dollar unit consists of one common share and one share purchase warrant, each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.75 per share at any time within 36 months after closing and each flow through unit consisting of one common share of the and one half of one share purchase warrant entitling the holder to purchase one common share at a price of CAD 0.75 for each flow through warrant share until the date that is 36 months from the closing. The transaction is subject to the TSX Venture Exchange approval.

Certain directors, officers and other insiders of the company are expected to acquire securities under the transaction.