Happy Creek Minerals Ltd. announced a non-brokered private placement of up to 8,000,000 units at an issue price of CAD 0.05 per common share for gross proceeds of up to CAD 400,000 on January 18, 2023. Each unit is comprised of one common share and one-half of a share purchase warrant. Each full warrant is exercisable into one common share of the company at an exercise price of CAD 0.10 per share for a period of two years from the date of issuance.

All common shares issued will be subject to a four-month plus one day hold period in accordance with applicable Canadian securities laws. Closing of the transaction is subject to receipt of all necessary regulatory approvals, including those of the TSX Venture Exchange, and certain other customary closing conditions. The transaction is expected to close early February and is not subject to any minimum aggregate subscription.

In connection, the company will pay a cash finder's fee to certain finders equal to 6% of the gross proceeds raised and issue broker warrants to certain finders in a quantity equal to 6% of the aggregate number of common shares sold. Each broker warrant will entitle the holder to purchase one common share of the company at a price of CAD 0.10 for a period of two years following the closing of the transaction.