On May 31, 2023, Inomin Mines Inc. closed the transaction. The company has issued 3,992,142 units at an issue price of CAD 0.07 per unit for the gross proceeds of CAD 279,449.94 and 3,275,000 flow-through units at a price of CAD 0.10 for the gross proceeds of CAD 327,500; aggregate gross proceeds of CAD 606,949.94. The transaction was oversubscribed. Each Unit consists of one common share and one Share purchase warrant of the Company. Each NFT Warrant is exercisable by the holder to acquire one Share for a period of 36 months from the date of closing of the Private Placement at a price of CAD 0.13 per Share. Each FT Unit consists of one Share and one Share purchase warrant the Company. Each FT Warrant is exercisable by the holder to acquire one Share for a period of 24 months from the date of closing of the Private Placement at a price of CAD 0.15 per Share. In connection with the transaction, the Company issued an aggregate of 256,550 non-transferrable finder’s warrants and paid finder’s commissions of an aggregate of CAD 24,574 and 36,050 Finder's Warrants were issued on the same terms as the NFT Warrants and 220,500 Finder's Warrants were issued on the same terms as the FT Warrants. All securities issued pursuant to the Private Placement, including the Shares issuable upon exercise of the Finder’s Warrants, are subject to hold period expiring on September 30, 2023. Out of the total amount, the company received CAD 102,998 pursuant to exemption provided under Regulation D from one investor.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 17 placees including pro group involvement of two pro groups for 407,142.