Goldrea Resources Corp. announced a non-brokered private placement consisting of 12,000,000 flow-through units at CAD 0.06 each and 10,000,000 non-flow-through units at CAD 0.04 each for aggregate gross proceeds of CAD 1,120,000 on May 3, 2022. Each flow-through unit will consist of one flow-through common share and one-half of a common share purchase warrant.

Each whole warrant of a flow-through unit entitles the holder to purchase one non flow-through common share at CAD 0.08 per share during the two years following the warrant's issuance. Each non-flow-through unit will be comprised of one common share and one-half of a common share purchase warrant. Each whole warrant of a non-flow-through unit entitles the holder to purchase one common share at CAD 0.06 per share during the two years following the warrant's issuance.

All securities issued under the private placements will be subject to a four-month hold period. A finder's fee may be paid in connection with the financing.