Cortus Metals Inc. announced a non-brokered private placement of 63,400,000 units at a price of CAD 0.03 per unit to raise gross proceeds of CAD 1,902,000 on July 31, 2022. Each unit will consist of one common share and one common share purchase warrant. The financing is open to all existing investors.

Each whole warrant will entitle the holder to purchase one additional common share of the company at an exercise price of CAD 0.05 per share for a period of five years from the date or dates of closing of the transaction. The securities issued may be subject to a four-month hold period from their closing date. The terms of the transaction are subject to the acceptance of the TSX Venture Exchange.

The company may pay finders' fees of cash, common shares or warrants, or a combination thereof, to eligible finders with respect to any portion of the transaction that is not subscribed for by existing shareholders.