Saville Resources Inc. announced a non-brokered private placement of up to 8,000,000 non-flow-through units at issue price of CAD 0.05 per non-flow-through unit for gross proceeds of up to CAD 400,000 and up to 12,000,000 flow-through shares at issue price of CAD 0.05 per flow-through share for gross proceeds of up to CAD 600,000; for an aggregate gross proceeds of CAD 1,000,000 on December 17, 2021. Each non-flow-through unit consists of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one non-flow-through share of the company at an exercisable price of CAD 0.075 per non-flow-through share for a period of 3 years from the closing of the transaction.

The company may pay finders fees in relation to the transaction. All securities issued in the transaction are subject to a hold period of four months and one day from the closing of the transaction. The closing of the transaction are subject to approval from exchange.