Silk Road Energy Inc. announced a non-brokered private placement of up to 1,666,667 flow-through units at a price of CAD 0.06 per unit for gross proceeds of up to CAD 100,000 on December 20, 2022. Each flow-through units will consist of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at a price of CAD 0.12 per share for a period of 24 months s following the issuance of warrants. The transaction is conditional upon receipt of required regulatory approvals, including the approval of the TSX Venture Exchange.

The securities issued pursuant to the offering, as well as any compensation options issued to finders, will be subject to four months and a day statutory hold period in accordance with applicable Canadian securities laws.