Pedro Resources Ltd. announced a non-brokered private placement of convertible debentures for the gross proceeds of CAD 725,000 on July 19, 2023. The debentures shall bear interest at a rate of 7.2% per annum. The debentures will mature on the date that is 36 months from the closing of the offering.

The debentures will be convertible into common shares of the company at a price of CAD 0.05 per common share in whole or in part at the option of the holder at any time prior to the maturity date. All securities issued in connection with the offering will be subject to a hold period of four months plus a day from the date of issuance. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended.