Academy Metals Inc. announced a non brokered private placement of up to 8,333,334 units at a price of CAD 0.12 per unit for gross proceeds of up to CAD 1,000,000 on June 27, 2022. Each unit will consist of one common share and one common share purchase warrant exercisable to acquire an additional common share at a price of CAD 0.16 for a period of 60 months. The company may pay finder's fees with respect to the transaction.

All securities to be issued will be subject to a four-month and one day statutory hold period. The transaction is subject to the final approval of the TSX Venture Exchange.