Prime Meridian Resources Corp. announced a non-brokered private placement of up to 30,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 1,500,000 on July 22, 2022. Each unit includes one common share and one common share purchase warrant.

Each common share purchase warrant is exercisable at CAD 0.10 for a period of 3 years. The Company may pay finders fees on the proceeds of the offering. All securities issued will be subject to a statutory four-month hold period.

The company has the right to accelerate the exercise period on the warrants if, after the expiry of the 4 months hold, the common shares of the company close at or above CAD 0.50 for a period of 10 consecutive trading days.