Auscan Resources Inc. announced a non-brokered private placement of 550,000 units at an issue price of CAD 0.24 per unit for the gross proceeds of CAD 132,000 on January 13, 2023. Each Unit will comprise one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase an additional Share for a period of three years at a price of CAD 0.32. The transaction will include participation from certain insiders.

The transaction is subject to acceptance of filings with the TSX Venture Exchange.