M3 Metals Corp. announced a non-brokered private placement of up to 5,000,000 units at a price of CAD 0.24 per unit for gross proceeds of up to CAD 1,200,000 on January 20, 2023. Each unit consists of one common share and one common share warrant.

Each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.32 per share at any time within 2 years after closing. All securities to be issued in the transaction will be subject to a 4 month hold period. The transaction is subject to TSX Venture Exchange approvals.