Abasca Resources Inc. announced a non-brokered private placement of up to 5,000,000 flow-through units at a price of CAD 0.25 per flow through unit for gross proceeds of up to CAD 1,250,000 on July 13, 2023. Each Flow Through Unit will consist of one flow-through share and one half of one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.30 for a period of 24 months following the closing date of the Offering.

The transaction is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Finders’ fees comprised of cash and non-transferable warrants in connection with the Offering will be paid.