Canuc Resources Corporation closed a non-brokered private placement of 1,800,000 units at a issue price of CAD 0.15 per unit for gross proceeds of CAD 270,000 on August 17, 2022. Each unit consists of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at CAD 0.25 for a period of two years from the final closing date.

Each whole warrant has an early exercise provision that allows the company to trigger exercise of the warrant for 10-day volume weighted average price of common shares traded on the TSX Venture Exchange exceeds CAD 0.50 per share, 30 days after the trigger date, any unexercised warrants will be deemed to be null and void. All securities issued will be subject to a hold period expiring four months and one day from the date of closing. Final closing is subject to acceptance and approval by the TSX Venture Exchange.

The transaction included participation from one officer of the company for CAD 15,000.