Zonte Metals Inc. announced a non-brokered private placement of up to 2,500,000 common share units at a price of CAD 0.10 for gross proceeds of CAD 250,000 and up to 6,320,000 flow-through units at a price of CAD 0.125 for gross proceeds of CAD 790,000 for aggregate gross proceeds of up to CAD 1,040,000 on December 15, 2022. The transaction may include certain insiders of the company for units in the offering valued at up to CAD 200,000. Each unit will consist of one common share and one share purchase warrant entitling the holder to acquire one additional common share at a price of CAD 0.18 for a period of 36 months from the date of issuance.

The company may consider increasing the size of the offering depending on demand. Eligible finders will be entitled to a finders' fees in connection with securities sold pursuant to the offering of cash in an amount equal to 6% of the aggregate gross subscription proceeds received from the sale of securities and finders' warrants equal to 6% of the number of securities sold in the offering, each such finders' warrant exercisable at any time up to 60 months following its date of issuance to purchase one common share of the company at an exercise price of CAD 0.20 per share. All finders' fees will be subject to and in accordance with exchange and regulatory policies.

The securities issued pursuant to the offering will be subject to a four-month and one day statutory hold period. The closing of the offering is expected to take place on or about December 21, 2022 or such other date(s) as may be determined by the Company.