Barsele Minerals Corp. announced a non-brokered private placement of up to 6,700,000 subscription receipts at a price of CAD 0.15 per subscription receipt for gross proceeds of CAD 1,005,000 on December 13, 2023. Each subscription receipt will entitle the holder thereof to receive one unit.

Each unit will consist of one share and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at a price equal to CAD 0.25 per share for a period of two years following the date of issuance of the warrant. The subscription receipts, sub receipt shares, warrants and warrant shares will be subject to a statutory four-month hold period following closing of the concurrent private placement.

The company may pay cash finder's fees to certain finders in respect of subscriptions received from investors in the concurrent private placement, subject to entering into customary finder's fee agreements with such finders and the policies of the TSXV. The concurrent private placement is subject to approval of the TSXV.