Colossus Resources Corp. announced a non-brokered private placement of 15,000,000 units at a price of CAD 0.16 per unit for the gross proceeds of up to CAD 2,400,000 on November 16, 2023. Each unit will be comprised of one common share and one-half of one non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of CAD 0.30 for a period of two years from closing of the financing.

The financing will be completed in tranches, with the first tranche of CAD 250,000. The balance of the financing will be completed concurrently with receipt of TSXV final acceptance of the option agreement and the transactions contemplated thereby. All securities issued under the financing will be subject to a four month hold period.

Finders fees may be payable on all or a portion of the financing.