Canuc Resources Corporation announced a non-brokered private placement on June 16, 2023. Each unit consists of one common share priced at CAD 0.08 per Common Share, and one half of one common share purchase warrant. Each whole Warrant entitles the holder to purchase one additional Common Share at CAD 0.25 for a period of two years from the closing of the transaction.

On the same date, the company issued 16,062,500 units at CAD 0.08 per for the gross proceeds of CAD 1,285,000 in the first tranche. Each unit consists of one common share priced at CAD 0.08 per Common Share, and one half of one common share purchase warrant. Each whole Warrant entitles the holder to purchase one additional Common Share at CAD 0.25 for a period of two years from the closing of the transaction. Each whole Warrant has an early exercise provision that allows the Company to trigger exercise of the Warrant when the 10-day average price of Common Shares traded on the TSX Venture Exchange exceeds CAD 0.50 per share. Thirty days after the trigger date, any unexercised Warrants will be deemed to be null and void. All securities issued under this Private Placement will be subject to a hold period expiring four months and one day from the date of closing. No finder fees or commissions are payable in connection with this first tranche closing. Closing is subject to final approval by the TSX Venture Exchange.