Ashley Gold Corp. announced a private placement of 4,166,667 units at a price of CAD 0.0720 per unit, for aggregate gross proceeds of CAD 300,000 on October 4, 2023. The transaction will include participation from new investor Sorbie Bornholm LP.

Each unit consisted of one common share of the company and one share purchase warrant, with each unit warrant entitling the holder to purchase one additional common share at a price of CAD 0.12 per unit warrant share, for a period of thirty-six months from the date of issue. The proceeds from the offering were deposited with a third-party escrow agent and shall be delivered to the company in equal monthly tranches of CAD 25,000 over the next 12 months pursuant to the terms and conditions of a Sharing Agreement.