Usha Resources Ltd. announced a private placement of 5,950,000 at a price of CAD 0.10 per unit for the gross proceeds of CAD 595,000 on November 8, 2023. Each unit consists of one common share and one transferable common share purchase warrant exercisable at CAD 0.20 per Share for a period of two (2) years from the closing date. All securities issued are subject to the exchange hold period and a four-month and one day hold period pursuant to securities laws in Canada expiring on March 4, 2024 and March 7, 2024.

On November 10, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange.The transaction included participation from 15 placees.