QNB Metals Inc. announced a non-brokered private placement of up to 5,000,000 units at an issue price of CAD 0.05 for the gross proceeds of CAD 250,000 on May 29, 2023. Each Unit will consist of one common share and one half of one Share purchase warrant, with each whole warrant exercisable into one Share at an exercise price of CAD 0.40 until the date that is 24 months following the closing of the Private Placement. Completion of the Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the Canadian Securities Exchange.

In connection with the Private Placement, the Corporation may pay finder's fees to eligible finders. All securities issued in connection with the Private Placement will be subject to a statutory hold period of 4 months and a day from their issuance.