Tsodilo Resources Limited closed a non-brokered private placement of 2,200,941 units at a price of CAD 0.20 per unit for gross proceeds of CAD 440,188.20 on January 23, 2023. The transaction will include participation from director for100,000 units. Each unit will consist of one common share in the capital of the company and one common share purchase warrant of the company, each such warrant entitling the holder to purchase one common share of the company for a period of twenty-four months from the date of closing at an exercise price of $0.20 (CAD 0.26816).

The common shares and the warrants comprising the units and the common shares underlying the warrants will be subject to a four month plus a day hold period from the date of closing per applicable regulatory requirements. The closing of the transaction is subject to, among other things, receipt by the company of TSX Venture Exchange approval.