Hercules Resources Corp. announced a non-brokered private placement of up to 6,000,000 units at a price of CAD 0.07 per unit for the gross proceeds of CAD 420,000 on June 23, 2023. Each unit consists of one common share and one common share purchase warrant.

Each warrant is exercisable into one common share at a price of CAD 0.12 per warrant for a period of 24 months from the closing date of the offering. All securities to be issued pursuant to the offering will be subject to a statutory hold period of four months and a day from issuance under applicable Canadian securities law.