Abacus Mining & Exploration Corporation announced a non-brokered private placement of 8,333,333 units at a price of CAD 0.06 per unit for gross proceeds of up to CAD 500,000 on February 23, 2022. Each unit is comprised of one common share and one half of one non-transferable share purchase warrant. Each warrant is exercisable into one common share of the company at an exercise price at CAD 0.1 per share for a period of two years from the date of the closing.

All securities to be issued will be subject to a four months hold period under Canadian securities law. The transaction is subject to the approval of TSX Venture Exchange.