Triton Minerals Limited announced a private placement 178,571,429 fully paid ordinary shares at an issue price of AUD 0.028 per share, each with a free attaching 178,571,429 options with an expiry date of 31 December 2025 and an exercise price of AUD 0.04 for gross proceeds of AUD 5,000,000 on September 5, 2022. The transaction includes cornerstone investment from new investor Shandong Yulong Gold Co., Ltd. The investor has agreed, subject to shareholder and regulatory approvals. The transaction has obtained the shares holders approval.

The transaction is expected to close on May 5, 2023. The transaction is subjected to approval of Extraordinary general meeting. The investor is subjected to obtaining any necessary FIRB approval or confirmation from FIRB, obtaining internal approval, National Development and Reform Commission approval, Ministry of Commerce of the People's Republic of China approval, state Administration of Foreign Exchange approval.