Highway 50 Gold Corp. announced a non-brokered private placement of i) up to 1,666,665 common shares to be issued on a flow-through basis at a purchase price of CAD 0.15 per flow-through share for gross proceeds of CAD 250,000 ii) up to 2,000,000 units at a purchase price of CAD 0.15 per unit for gross proceeds of CAD 300,000 for aggregate gross proceeds of CAD 550,000 on April 24, 2023. Each unit will consist of one non-flow-through common share of the company and one non-flow-through common share purchase warrant.

Each warrant will entitle the holder to purchase one non-flow-through common share of the company at a purchase price of CAD 0.20 per share for a period of two years from the closing date of the non-flow-through offering. Insiders of the company intend to participate in the flow-through offering and the non-flow-through offering. The securities issued pursuant to the offerings will be subject to a four-month hold period in accordance with applicable securities laws and the rules of the exchange.

Finder's fees of 7% may be paid to arm's-length finders in cash and broker's warrants on some or all of the proceeds raised in the offerings. The transaction is subject to the acceptance of the TSX Venture Exchange.