Regal Resources Inc. announced a private placement of 3,500,000 units at an issue price of CAD 0.10 per share for gross proceeds of CAD 350,000 on December 7, 2022. Each unit will be comprised of one common share and one half of one common share purchase warrant. Each warrant will be exercisable by the holder to acquire an additional share at an exercise price of CAD 0.20 for a period of two years after issuance.

The transaction is subject to British Columbia Securities Commission for the completion of the transaction. The closing of the transaction is subject to to the grant of the partial revocation order by the British Columbia Securities Commission.