Silk Road Energy Inc. announced a private placement of 483,333 common shares at CAD 0.06 per share for gross proceeds of CAD 29,000 on August 10, 2022. The company issued warrant to purchase 483,333 shares of the company. The warrants will be exercisable at a price of CAD 0.12 per share for one year.

No finder's fee is payable in the transaction. This financing is subject to TSX Venture Exchange, regulatory and board approval.