Hemlo Explorers Inc. announced a non-brokered placement of 8,000,000 units at a price of CAD 0.075 per unit for the gross proceeds of CAD 600,000 and 6,666,667 flow through units at a price of CAD 0.09 per flow through unit for the gross proceeds of CAD 600,000.03 on April 20, 2023. Each Unit shall be comprised of one common share and one common share purchase warrant. Each Flow Through Unit shall be comprised of one flow-through share and one Warrant.

Each Warrant shall entitle the holder thereof to acquire one common share, to be issued on a non-flow though basis, at a price of CAD 0.15 until the date that is eighteen months following the closing date of the Offering. The securities to be issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance. The transaction is subject to approval of the TSX Venture Exchange.

The Company may pay finder’s fees on a portion of the Offering. Robert Cudney and Northfield Capital Corporation have committed to provide the lead order for the Offering.