Buscando Resources Corp announced a non-brokered private placement of 2,000,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 200,000 for gross proceeds of September 23, 2022. Each unit will consists of one common share of the company and one common share purchase warrant. Each warrant shall be exercisable to acquire one common share at a price of CAD 0.20 for a period of 24 months from the closing of the offering.

If the closing price of the common shares is at a price equal to or greater than CAD 0.20 for a period of ten consecutive trading days, the company will have the right to accelerate the expiry date of the warrants by giving notice, through a news release, to the holders of the warrants that the warrants will expire on the date that is 30 days after the issuance. The transaction is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws.