Rackla Metals Inc has announced that it has entered into a letter agreement for a private placement on best efforts to issue of Flow-Through Units at a price of CAD 0.275 per flow-through unit and Hard Units at a issue price of CAD 0.25 for a aggregate gross proceeds of CAD 3,000,000 on August 28, 2023. A minimum of CAD 500,000 will be raised from the sale of Hard Units. Each Flow-Through Unit consisting of one common share and one common share purchase warrant.

Each Hard Unit consisting of one common share and one Warrant. Each warrant will entitle the holder to acquire one additional common share at a price of CAD 0.4 for a period of two years following the Closing Date. The closing of the transaction is expected to take place on or about September 14, 2023.

The transaction is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The offered securities will be subject to a statutory hold period of four months and one day from the Closing Date in accordance with applicable securities laws.