Medaro Mining Corp. announced a private placement to issue 16,666,666 non flow-through units at an issue price of CAD 0.06 per unit for the gross proceeds of CAD 999,999.96 and 25,000,000 flow-through units at an issue price of CAD 0.08 per unit for the gross proceeds of CAD 2,000,000; aggregate gross proceeds of CAD 2,999,999.96 on October 20, 2023. Each NFT Unit will be composed of one common share and one common share purchase warrant with each NFT Warrant will entitle the holder thereof to acquire one additional NFT Share at a price of CAD 0.12 per NFT Warrant Share for a period of 24 months from the closing date and Each FT Unit will be composed of one common share and one common share purchase warrant with each FT Warrant will entitle the holder thereof to acquire one additional common share at a price of CAD 0.12 per FT Warrant Share for a period of 24 months from the closing date of the FT Offering.

The Offering may close in one or more tranches, the first of which is expected to close on or around October 27, 2023. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange.