Nighthawk Gold Corp announces private placement of 36,765,000 subscription receipts at an issue price of CAD 0.34 for gross proceeds of CAD 12,500,100 on November 28, 2023. The private placement is expected to close on or about December 19, 2023 and is subject to TSX and other necessary regulatory approvals. Each subscription receipt shall represent one share and one half of one common share purchase warrant.

Each warrant will be exercisable by the holder thereof for one common share at an exercise price of CAD 0.46 per warrant share for a period of 3 years following the date of issuance, subject to adjustments in certain events. The company has also granted the underwriters an option, exercisable, in whole or in part, for a period of up to two business days prior to closing of the transaction, to sell up to an additional 15% of the Subscription Receipts.