Cashbox Ventures Ltd. announced a private placement for minimum gross proceeds of subscription receipts at an issue price CAD 0.10 for proceeds of CAD 750,000 and maximum gross proceeds of CAD 1,500,000; 5% bridge loan of CAD 200,000; aggregate gross proceeds of CAD 1,700,000 on January 13, 2023. The transaction will include participation from LiCAN Exploration Inc. The closing of the transaction would be subject to the satisfaction of various conditions precedent, including the receipt of all necessary regulatory approvals, authorizations and consents, receipt of all necessary corporate and shareholder approvals by the parties and subject to the approval of the CSE and all related filing, disclosure and other requirements. The loan will be utilized in following ways: CAD 50,000 within five business days of the signing of the Letter of Intent, CAD 50,000 on or before February 10, 2023, CAD 50,000 on or before March 10, 2023, CAD 50,000 on or before April 10, 2023.

The maturity date of loan is April 10, 2024. The transaction is expected to close on or about the week of February 15, 2023.