Mineral Mountain Resources Ltd. announced a private placement of CAD 6,000,000 on August 2, 2022. The company issued 113,428,571 units with each unit comprised of one common share and one common share purchase warrant exercisable at a price of CAD 0.15 for six months from the date of issuance. The company plans to additionally raise CAD 200,000 bringing the total gross proceeds to CAD 7,940,000.

The transaction is expected to close in two tranches, the first tranche of CAD 600,000 a second tranche for the remaining CAD 7,340,000 upon obtaining shareholder approval. The transaction is subject to the approval of the TSX Venture Exchange. The securities issued in the transaction will be subject to a four-month hold period, in accordance with applicable securities laws.