Newfoundland Discovery Corp. announced a non-brokered private placement of up to 16,666,666 units at a price of CAD 0.06 per unit for the gross proceeds of up to CAD 1,000,000 on January 19, 2023. Each unit will consist of one common share of the company and one-half of one transferable common share purchase warrant.

Each warrant will entitle the holder to acquire one additional common share at an exercise price of CAD 0.10 for a period of 24 months from the closing date. Finder's fees may be payable in accordance with the policies of the Canadian Securities Exchange. There will be a hold period of four months and one day on all securities issued under the transaction.