Tuktu Resources Ltd. announced a brokered private placement of up to 30,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 1,500,000 on December 13, 2023. Each unit shall be comprised of one common share and one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of CAD 0.075 for a period of 36 months from closing of the offering.

The company has granted the agent an option to offer for sale up to an additional 15% of the number of units sold in the offering, which agent's option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the offering. The company will pay the agent a commission equal to 8% of the gross proceeds of the offering, other than in respect of proceeds from the sale of units to certain president's list purchasers identified by the company, for which a 4% commission will be payable. The agent will receive such number of broker warrants as is equal to 8% of the number of units sold under the offering, other than in respect of the units sold to the president's list purchasers, for which the agent shall receive broker warrants equal to 4% of the number of such units.

Each broker warrant shall entitle the holder thereof to purchase one unit at an exercise price equal to CAD 0.05 for a period of 36 months following the closing of the offering. The closing of the offering will occur on or about December 21, 2023, or such other date as mutually agreed to by the agent and the company, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and any applicable security regulatory authorities. The units issuable in the offering will be subject to the standard statutory four-month plus one day hold period.