Gossan Resources Limited announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.16 per unit for gross proceeds of CAD 800,000 on April 14, 2022. Each unit consists of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of CAD 0.24 per share for a period of two years from the date of issuance.

All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance. The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The company may pay finder's fees to eligible persons in accordance with applicable securities laws and regulatory policies.