Arctic Fox Lithium Corp. announced a non-brokered private placement of 5,000,000 units at a price of CAD 0.03 per unit for aggregate gross proceeds of up to CAD 150,000 on March 21, 2024. Each unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at a price of CAD 0.06 for up to 24 months.

The first tranche of the private placement is expected to close on or around March 26, 2024. All securities issued pursuant to the private placement described above will be subject to a four-month-and-one-day hold period.