MAS Gold Corp. announced a non-brokered private placement for gross proceeds of up to CAD 1,500,000 on November 23, 2022. The company will issue 11,111,111 non-flow-through units at a price of CAD 0.045 per unit and 20,000,000 flow-through units at a price of CAD 0.05 per FT unit in the transaction.

Each non-flow-through unit will consist of one common share and one common share purchase warrant. Each FT unit will consist of one common share to be issued as a “flow-through share” and one warrant. Each Warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.08 for a period of 24 months following the distribution date.

The closing of the Offering will be subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. The Common Shares and FT Shares issuable from the Offering will have a hold period ending on the day that is four months and one day following its distribution date. The transaction is expected to close on December 15, 2022.