Sylla Gold Corp. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.10 per unit for aggregate gross proceeds of up to CAD 1,000,000 on October 20, 2022. Each unit shall be comprised of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.15 per common share for a period of two years from the date of issuance. All securities issued pursuant to the transaction will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The company may pay certain eligible persons a cash commission equal to 7% of the gross proceeds of the transaction and broker warrants equal to 7% of the number of units issued pursuant to the transaction. Each broker warrant shall entitle the holder thereof to acquire one common share at a price of CAD 0.15 per common share for a period of two years from the date of issuance.

On December 8, 2022, the company announced that it has applied to the TSX Venture Exchange for an extension of its price protection for an additional 30 days in order to complete the previously announced non-brokered private placement of up to 10,000,000 units at a price of CAD 0.10 per unit for aggregate gross proceeds of up to CAD 1,000,000.