Gander Gold Corporation announced a non-brokered private placement with strategic investors for gross proceeds of CAD 3,210,000 on September 9, 2022. The company will issue up to 4,000,000 common shares at CAD 0.27 per share for gross proceeds of up to CAD 1,080,000; up to 3,500,000 flow-through shares at CAD 0.31 per share for gross proceeds of up to CAD 1,085,000; and up to 2,750,000 charitable flow-through shares at CAD 0.38 per share for aggregate gross proceeds of up to CAD 1,045,000 in the transaction. Completion of the transaction is subject to certain conditions, and receipt of all necessary regulatory approvals.

All securities issued in the transaction are subject to a hold period of four months and one day following the closing.