Stuve Gold Corp announced a non-brokered private placement of up to 700 convertible unsecured debentures to be issued at a face value of CAD 1,000 per debenture for aggregate gross proceeds of up to CAD 700,000 on August 4, 2022. The debentures will carry interest at a rate of 7% per annum, and mature two years from the date of issue. The Debentures may be convertible by the holders at any time prior to maturity into common shares of the company at a conversion price of CAD 0.06 per common share if converted within one year of issue or at a conversion price of CAD 0.10 per common share if converted thereafter.

Completion of the transaction is subject to regulatory approval, including the approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period from the date of the closing. It is anticipated that insiders will participate in the transaction.