Bonanza Mining Corporation announced a non-brokered private placement of 2,500,000 flow-through units at a price of CAD 0.1 per flow-through unit for gross proceeds of CAD 250,000 and 1,500,000 ordinary units at a price of CAD 0.07 per ordinary unit for gross proceeds of CAD 105,000 on September 20, 2022. Each flow-through unit and ordinary unit consists of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one common share at a price of CAD 0.15 per share for a period of two years from the date of closing.

The transaction is subject to approval from TSX Venture Exchange. The securities are being subject to four months and one day hold period.