Geomega Resources Inc. announced a non-brokered private placement of 4,354,667 units at a price of CAD 0.24 per unit, for aggregate gross proceeds in the amount of CAD 1,045,120.08 on May 4, 2022. The transaction included participation from Michael Gentile. Each unit consists of one common share and one share purchase warrant.

Each warrant entitles the holder thereof to acquire one additional share at a price of CAD 0.32 per share, until the date that is 36 months from the closing of the transaction. The securities issued under the offering have a hold period of four months and one day from their issue. The transaction is subject to final acceptance of the TSX Venture Exchange.

The comapny will issue 4,354,667 common shares, and 4,354,667 common share purchase warrants to purchase 4,354,667 shares.