Abacus Mining & Exploration Corporation announced a non-brokered private placement of up to 16,666,667 units at the price of CAD 0.03 per unit for gross proceeds of up to CAD 500,000 on April 17, 2023. Each unit will consist of one common share and one half of one non-transferable common share purchase warrant. Each whole warrant is exercisable into one common share at the price of CAD 0.05 per share for a period of 3 years following the closing of the transaction.

If total subscriptions received for the offering exceed the maximum offering amount of CAD 500,000, units will be allocated pro rata among all subscribers qualifying under all available exemptions, unless the company otherwise increases the maximum offering amount. The financing is subject to TSX Venture Exchange approval. In connection with the offering, certain finders may receive a cash fee or non-transferable finder warrants.

All securities issued will be subject to a four month hold period.