Transforma Resources Corporation announced a private placement of 3,333,334 units at a price of CAD 0.03 for a total gross proceeds of CAD 100,000 on December 28, 2022. Each unit will consist of one common share and one non-transferable share purchase warrant to acquire one additional common share. Each Warrant will be exercisable to purchase one common share at an exercise price of CAD 0.05 until December 31, 2026.

The expiry date of the Warrants may be accelerated in the event that the common shares of the company trade at a closing price greater than CAD 0.20 per share for a period of 10 consecutive trading days, then the company may issue a press release to give notice to the Warrant holders that they must exercise their Warrants within the next 30 days, or the Warrants will expire. The terms of the Offering are subject to the satisfactory acceptance of the TSX Venture Exchange. The company may pay finder's fees or commissions in connection with this placement.