Sun Summit Minerals Corp. announced a non-brokered private placement of up to 6,666,666 flow-through units at a price of CAD 0.15 per flow-through unit for gross proceeds of CAD 999,999.9; and up to 16,666,666 non-flow-through units at a price of CAD 0.12 per non-flow-through unit for gross proceeds of CAD 1,999,999.92; for aggregate gross proceeds of up to CAD 2,999,999.82 on March 11, 2024. Each flow-through unit will consist of one flow-through common share and one-half of one common share purchase warrant.

Each flow-through warrant will entitle the holder to acquire one non-flow-through common share at an exercise price of CAD 0.18 per share for a period for 12 months from the date of issuance of the flow-through warrant. Each non-flow-through unit will consist of one non-flow-through common share and one-half of one common share purchase warrant. Each non-flow-through warrant will entitle the holder to acquire one non-flow-through common share at an exercise price of CAD 0.15 per share for a period for 12 months from the date of issuance of the non-flow-through warrant.

The private placement is subject to the approval of the TSX Venture Exchange. The securities issued in the private placement will be subject to a four-month hold period in accordance with applicable securities laws.