S2 Minerals Inc. announced a non-brokered private placement of up to 12,000,000 units at a price of CAD 0.12 per unit for gross proceeds of up to CAD 1,440,000 on December 15, 2021. Each unit consists of one common share and one half of common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.25 per share for a period of two years from the date of closing.

The transaction includes participation from returning investor, Dan Noone and Patrick Sheridan. The transaction is subject to regulatory approval. The securities are being subject to four months hold period.

The insiders of the company may subscribe for up to CAD 1,296,000 of the transaction and is expected to close in January, 2022.