AsiaBaseMetals Inc. announced a non-brokered private placement of up to 5,000,000 units at issue price of CAD 0.11 per unit for gross proceeds of CAD 550,000 on April 1, 2022. The transaction may include participation from certain directors and officers of the company. Each unit consists of one common share and one transferable common share purchase warrant.

Each warrant entitles the holder to purchase an additional shares at an exercise price of CAD 0.14 per share for a period of five years from the date of closing of the transaction. The transaction is subject to acceptance from TSX Venture Exchange. All the securities issued in the transaction is subject to a hold period of four months from the closing of the transaction.