PNG Copper Inc. announced a private placement of 1,428,572 units for gross proceeds of CAD 100,000.04 on December 14, 2021. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.10 per share for a period of five years from the date of issuance. The transaction is subject to the receipt of all regulatory approvals, including the approval of the Canadian Securities Exchange. The securities issued are subject to a statutory hold period expiring four months and one day four months from the date of closing.