Essex Minerals Inc. announced a non-brokered private placement of 44,000,000 units of the company at a price of CAD 0.02 per unit to raise gross proceeds of CAD 880,000 on September 21, 2022. Each unit will consist of one common share and one share purchase warrant, with one whole warrant entitling the holder to purchase one additional common share of the company at a purchase price of CAD 0.05 per warrant share for a period of 60 months from the date of closing. Finders' fees may be payable on all, or part, of the transaction.

The completion of the transaction, including the issuance of any finders' shares, is subject to acceptance for filing by the TSX Venture Exchange. The securities issued will be subject to a hold period of four months plus one day from the date of issuance.