Waraba Gold Limited announced a non-brokered private placement of 15,000,000 units of the company at price of CAD 0.10 per unit for gross proceeds of up to CAD 1,500,000 on March 27, 2023. Each unit will be comprised of once common share and one common share purchase warrant. Each warrant shall be exercisable to acquire one common share at price of CAD 0.5 per warrant share, for a period of 12 months from the closing of the offering. The units to be issued under the offering will have a hold period of four months and one day from closing. The transaction will be completed in one or more tranches.

On the same date, the company issued 9,257,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 926,000 in its first tranche. The warrants are exercisable at a price of CAD 0.5 for a period of 12 months.