Regulus Resources Inc. announced a non-brokered private placement of 20,058,974 common shares at issue price of CAD 1.02 per share for gross proceeds of CAD 20,460,153 on December 22, 2022. The transaction will include participation from new investor Nuton and will own 16.5% interest in the company. Nuton shall be allowed to nominate a director to the board of directors of the company.

The closing of the private placement is expected to occur in January 2023 and is subject to various conditions, including approval of the TSX Venture Exchange. No finder's fee or commissions are payable in connection with the private placement.