Rainy Mountain Royalty Corp. announced a non-brokered private placement financing of up to 14,000,000 units at a price of CAD 0.035 per unit for gross proceeds of up to CAD 490,000 on October 24, 2022. Each unit is comprised of one common share of the company and one common share purchase warrant of the Company.

Each warrant will entitle the holder to purchase one common share of the company at an exercise price of CAD 0.05 for a period of 60 months following the closing date of the financing. A portion of the financing, yet to be determined, will be done as flow-through. In connection with the financing, the company may pay finder's fees up to 6% cash and up to 6% in finder's warrants to eligible finders.

All securities issued in connection with the financing will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada. Closing of the financing is subject to receipt of all necessary approvals, including that of the Board of Directors and the TSX Venture Exchange.