Precipitate Gold Corp. announced a non-brokered private placement of flow-through units at a price of CAD 0.10 and non-flow-through units at a price of CAD 0.09 for total gross proceeds of CAD 750,000 on December 7, 2021. Each flow-through unit will consist of one flow-through common share and one-half of a warrant, each whole warrant exercisable at CAD 0.15 per share for 24 months and each unit consisting of one non-flow-through common share and one-half of a warrant, each whole warrant exercisable at CAD 0.15 per share for 24 months.

All the securities subject to a statutory hold period of four months plus a day following the date of closing. Red Cloud Securities Inc. is acting as a finder in connection with the flow through component of the transaction. The company may pay additional finders' fees on a portion of the transaction, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.

Closing of the transaction is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.