Gold Line Resources Ltd. announced a non-brokered private placement to issue up to 16,666,668 units at an issue price of CAD 0.12 per unit for gross proceeds of CAD 2,000,000 on August 16, 2022. Each unit will consist of one common share and one-half of one share purchase warrant. Each full warrant will entitle the holder to purchase one common share at a price of CAD 0.25 per common share for a period of 24 months from the date of issuance.

The company will pay a finders' fee of 6% on the gross proceeds of the financing from subscribers introduced by certain finders' and will issue such number of finders' warrants as is equal to 6% of the units sold to subscribers introduced by certain finders'. Each finders' warrant will entitle the holder thereof to purchase one common share of the company at a price of CAD 0.25 per finders' warrant share for a period of 24 months from the date of issuance. All securities issued under the financing are subject to TSX Venture Exchange approval will be subject to a four month and one day hold period after the date of closing.