FenixOro Gold Corp. announced a non-brokered private placement consisting of units at a price of CAD 0.18 per unit for anticipated gross proceeds of between CAD 2 million and CAD 3 million on June 15, 2022. The transaction will include participation from company management and members of the board of directors.

Each unit will consist of one common share of the company and one whole common share purchase warrant, with each warrant being exercisable for one additional common share at an exercise price of CAD 0.23 for a period of twenty-four months from the date of issuance. All securities issued pursuant to the private placement are subject to a statutory hold period of four months and one day from the date of issuance. The closing of the transaction is subject to certain standard closing conditions, as well as the approval of the Canadian Securities Exchange.

Closing is expected to be completed on or about June 30, 2022. The company may pay customary finders fees to third parties that assist with the private placement.