St. Augustine Gold and Copper Limited announced that it has entered into an agreement to issue 91,778,683 common shares at an issue price of CAD 0.041248594 per share for gross proceeds of CAD 3,785,741.6329 on June 6, 2023. The transaction will include participation from returning investor Queensberry Mining and Development Corp.

The transaction is subject to the approval of the Toronto Stock Exchange. Post completion of the transaction, the investor will hold 500,457,239 common shares, representing approximately 49.48% stake in the company.