Stuhini Exploration Ltd. announced a non-brokered private placement of up to 4,000,000 units at a price of CAD 0.40 per unit for gross proceeds of up to CAD 1,600,000 on February 23, 2023. The transaction will include participation from returning individual investor Eric Sprott for CAD 1,000,000. Each unit will consist of one common share and one half of one common shares purchase warrant.

Each whole warrant is exercisable into one common shares at a price of CAD 0.50 per common share for a period of two years following the closing of the transaction. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSXV. All securities to be issued pursuant to the transaction will have a hold period of four months and one day from the closing of the transaction.