Goldgroup Mining Inc. announced a non-brokered private placement of up to 18,000,000 units at CAD 0.035 per unit for gross proceeds of CAD 630,000 on April 19, 2022. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share at CAD 0.05 per share for three years from the date of closing.

The transaction is expected to close within four weeks. The closing of the transaction is subject to receipt of all necessary approvals, including approval of the Toronto Stock Exchange. All securities issued will be subject to statutory hold periods expiring four months and one day from the date of closing of the transaction.