Golden Independence Mining Corp. announced a non-brokered private placement of up to 6,451,612 units at a price of CAD 0.31 per unit for gross proceeds of up to approximately CAD 2,000,000 on January 30, 2023. Each unit will consist of one common share and one whole common share purchase warrant of the company.

Each warrant entitles the holder to purchase one additional common share of the company at an exercise price of CAD 0.50 per share for a period of two year from the date of issuance. All securities to be issued in the transaction will be subject to a four-month and one day hold period. The transaction is subject customary conditions of closing, including the approval of the Canadian Securities Exchange.

The company may pay cash finders' fees equal to 6% of the gross proceeds of the transaction and issue finders' warrants having the same term as the warrants, equal to 6% of the number of units issued.