NewOrigin Gold Corp. announced a non-brokered private placement of up to 10,000,000 units of the company at a price of CAD 0.05 per unit for gross proceeds of CAD 500,000 on November 15, 2022. Each unit will be comprised of one common share of company and one common share purchase warrant.

Each warrant will entitle the holder to acquire one common share at an exercise price of CAD 0.10 per warrant share for a period of 24 months following the closing of the transaction. The company can elect to accelerate the expiry date of the warrants in the event that the volume-weighted average trading price of the common shares equals or exceeds CAD 0.18 for twenty consecutive trading days, in which case the warrants will expire thirty days after the date that the company provides written notice of acceleration. In connection with the transaction, the company may pay finders' fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange.

If finders' fees are paid in connection with the transaction, it is expected that any cash finders' fee will be equal to 7% of the proceeds placed by the applicable finder, and any finder's fee paid in securities will be equal to 7% of the number of units placed by the applicable finder. Each finder's warrant will be exercisable for one common share at a price of CAD 0.10 per finder's share for a period of 24 months from the closing date of the transaction. The transaction is subject to the receipt of all required regulatory approvals including the approval of the Exchange.

All securities issued and issuable pursuant to the transaction will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. Closing of the transaction is anticipated to occur on or around December 15, 2022 and is subject to customary closing conditions including, but not limited to; all regulatory approvals including the approval of the Exchange.