Gelum Resources Ltd. announced a non-brokered private placement consisting of up to 2,500,000 units at a price of CAD 0.20 per unit for gross proceeds of up to CAD 500,000 on December 12, 2022. Each unit consists of one common share and one common share purchase warrant, each warrant entitles the holder to purchase an additional common share at a price of CAD 0.40 per share for a period of 24 months from the closing of the transaction. Finder's fees may be paid in connection with the transaction.

All securities issued in connection with the transaction have a four-month and one day hold period in Canada from closing.