Moonbound Mining Ltd announced a non-brokered private placement financing of 500 debenture units at an issue price of CAD 1,000 for the gross proceeds of CAD 500,000 on July 4, 2024. Each Debenture Unit is comprised of 1 CAD 1,000 principal amount unsecured convertible debenture and 2,500 common share purchase warrants. Each Warrant will entitle the holder thereof to acquire one common share at a price off CAD 0.40 per Warrant Share for a period of two years following closing.

The principal amount of the Debenture will have a maturity date six months following the issuance of the Debentures and will accrue interest at a rate of 10% per annum. At the sole option of the subscribers, the principal amount and any accrued and unpaid interest thereon may be converted into common shares of the Company at a conversion price of CAD 0.40 per Warrant Share for a period of two years following closing. All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering.