Loyalist Exploration Limited announced a brokered private placement of 17,000,000 units at a price of CAD 0.01 per share for the gross proceeds of CAD 170,000 on February 1, 2024. Each unit consists of one common share and one common share purchase warrant exercisable for five years at CAD 0.05. The securities issued in connection with the private placement are subject to a hold period expiring four months and one day from the issuance of the securities.

As a part of the transaction, the company will pay CAD 15,300 which is a cash commission of 9% of the funds raised, and (ii) the number of broker warrants equal to 10% of the number of units issued. Each broker warrant is exercisable into a unit at a price of CAD 0.05 for a period of five years from the closing of the financing.