Fredonia Mining Inc. announced a private placement financing to issue 10,000,000 common shares at an issue price of CAD 0.05 per share for the gross proceeds of CAD 500,000 on January 15, 2024. Certain directors and officers of the Company are expected to participate in the Offering. The financing is expected to close on or about January 23, 2024, subject to regulatory approvals and customary closing conditions, including approval for listing of the Common Shares on the TSX Venture Exchange.

All Common Shares issued pursuant to the Offering will be subject to a hold period of four months and one day.