Mich Resources Ltd. (CSE: MICH) is pleased to announce that it has closed a non-brokered private placement financing for aggregate proceeds of $1,153,000. The Offering is comprised of 5,530,000 flow through shares at a price of $0.125 per flow through share, and 4,800,000 Units at a price of $0.10 per Unit.  Each Unit is comprised of one common share of the Company and one half common share purchase warrant.  Each whole Warrant entitles the holder to purchase one non-flow through common share of the Company for a period of 36 months from closing of the Offering at a price of $0.15 per Warrant Share.

The securities offered pursuant to the Offering will be subject to a statutory hold period of four months and a day from the date of  issuance.  The Company paid a total of $33,460.00 in finder’s fees and issued a total of 275,000 finders Warrants to two arm’s length parties on a portion of the gross proceeds of the Offering. Each Warrant entitles the holder to purchase one Warrant Share for a period of 36 months from closing of the Offering at a price of $0.15 per Warrant Share.

The Offering is being completed as a condition to the completion of the acquisition (the “Acquisition”) of an option to purchase a 100% interest in Pavey Ark Minerals Inc.’s Chrome-Puddy Property and Danby Triangle Property pursuant to a definitive agreement announced in the Company’s news release dated January 31, 2023. It is anticipated that the Acquisition will close in the fourth quarter of 2023.

About the Company

The Company is a British Columbia public company with a registered office at 25th Floor, 700 West Georgia Street, Vancouver, BC, V7Y 1C3. The Company’s common shares are listed on the Canadian Securities Exchange (CSE) and reporting in British Columbia and Ontario. The Company is principally engaged in the acquisition and exploration of mineral properties.