Prosper Gold Corp. announced a non-brokered private placement of hard-dollar units at a price of CAD 0.2 per unit and flow-through units at a price of CAD 0.25 per unit for aggregate gross proceeds of CAD 1,275,000 on November 2, 2022. Each hard-dollar unit consists of one common share and one common share purchase warrant which is exercisable into one common share at a price of CAD 0.3 per share for a period of 24 months from the date of issue. Each flow-through unit consists of one flow-through share and one half of one non-transferable non-flow through common share purchase warrant exercisable into one common share at a price of CAD 0.3 per share for a period of 24 months from the date of issue. All warrants issued in the transaction are subject to acceleration trigger. The transaction is expected to close on or about November 15, 2022. All securities issued will be subject to a four month and one day hold period.

As of the same date, the company has issued 1,300,000 hard-dollar units for gross proceeds of CAD 260,000 and 1,860,000 flow-through units for gross proceeds of CAD 465,000; for aggregate gross proceeds of CAD 725,000 in its first tranche. Pursuant to the first tranche, finder's fees totaling approximately CAD 33,000 in cash and approximately 136,750 common share purchase warrants were paid to certain finders. Each warrant is non-transferable and exercisable for one common share for a period of 24 months following closing at an exercise price equal to CAD 0.30.