Midnight Sun Mining Corp. announced a non-brokered private placement of 4,685,000 units at a price of CAD 0.20 per unit for gross proceeds of CAD 937,000 on December 31, 2022. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the company for a period of 24 months from closing, at an exercise price of CAD 0.30. The company will pay finders fee of CAD 58,560, and 292,800 finders' warrants will be issued in connection with the private placement. Each finder's warrant entitles the finder to purchase one common share of the company for a period of 24 months from closing, at an exercise price of CAD 0.30.

On the same day, the company has issued 25,000 units at a price of CAD 0.20 per unit for gross proceeds of CAD 5,000 in its first tranche.