Pershimex Resources Corporation announced a non-brokered private placement of 5,714,286 flow-through units at a price of CAD 0.035 per flow-through unit for gross proceeds of CAD 200,000 on November 1, 2022. Each flow-through unit consists of one common share to be issued as a flow-through share within the meaning of the Income Tax Act (Canada) and one-half common share purchase warrant. Each whole warrant shall entitle the holder to purchase one common share at a price of CAD 0.06 until no later than 24 months after closing of the private placement.

A cash commission representing 7% of the gross proceeds from the transaction will be payable at closing to an arm's length intermediary. The transaction is subject to the approval of the TSX Venture Exchange. The flow-through shares, warrants and common shares to be issued upon exercise of the warrants will have a hold period expiring four months after the closing date of the transaction.