CAVU Mining Corp. announced a private placement of 500,000 units at a price of CAD 0.40 per unit for gross proceeds of CAD 200,000 on February 4, 2022. Each unit will consist of one common share and one common share purchase warrant.

Each warrant will entitle the holder to acquire one share at an exercise price of CAD 0.60 for a period of 2 years. The transaction included participation from Forty Pillars Mining Corp.