Nortec Minerals Corp. announced a non-brokered placement of up to 4,666,667 unit at an issue price of CAD 0.075 per unit for gross proceeds of up to CAD 350,000 on December 1, 2022. Each unit consists of one post-consolidation flow-though common share and one-half purchase warrant.

Each warrant entitles the holder to purchase one common share of the company at CAD 0.10 per share for a period of two years from issuance. The Company may pay finders' fees in accordance with the policies of the TSX Venture Exchange. The Warrants are subject to an accelerated expiry date, at the Company's option, which takes effect when the post-Consolidation Common Shares trade at or above the volume-weighted average price of CAD 0.15 per post- consolidation Common Share on the TSX-V for a period of 10 consecutive trading days commencing four months plus one day after the date of issuance of the Warrants.

The transaction is subject to TSX-V acceptance.