Alerio Gold Corp. announced a private placement of units at a price of CAD 0.25 per unit on January 12, 2022. Each unit is composed of one common share and one share purchase warrant. Each whole warrant is exercisable into one share at a price of CAD 0.40 for a period of two years from the date of issuance.

On the same date, the company has issued 2,841,000 units for gross proceeds of CAD 710,250 in its first tranche. In connection with the first tranche, the company issued 133,070 finders' warrants and paid a cash fee of CAD 33,267.50 to certain finders. Each finders' warrant is exercisable at a price of CAD 0.40 for a period of two years from the date of issuance. All securities issued will be subject to a four-month statutory hold period. The closing of the first tranche of the transaction is subject to all required regulatory approvals.