Stuhini Exploration Ltd. announced a non-brokered private placement of up to 2,800,000 units at a price of CAD 0.23 per unit for gross proceeds of up to CAD 644,000 on December 6, 2022. The transaction will include participation from individual investor Eric Sprott for CAD 100,000. Each unit will consist of one common share and one half of one common shares purchase warrant.

Each whole warrant is exercisable into one common shares at a price of CAD 0.35 per common share for a period of two years following the closing of the transaction. The company may pay finders' fees in cash of up to 8% of the gross proceeds from the sale of units placed by the finder and issue finder's warrants entitling the finder to purchase such number of common shares that is equal to up to 8% of the number of units placed by the finder. Each finder's warrant will entitle the holder thereof to acquire one common share at a price of CAD 0.35 per share for a period of two years following the closing of the transaction.

All securities to be issued pursuant to the transaction will have a hold period of four months and one day from the closing of the transaction. It is anticipated that certain directors, officers and other insiders of the company will acquire Units under the transaction. The transaction may close in multiple tranches and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.