Viva Gold Corp. announced a non-brokered private placement of up to 21,428,571 units at a price of CAD 0.14 per share for gross proceeds of up to CAD 3,000,000 on February 27, 2023. Each unit consist of one common share and one whole non-transferable common share purchase warrant.

Each warrant entitles the holder to purchase one common share for CAD 0.23 for a period of 36 months from the date of issuance. Certain insiders of the company may acquire shares in the transaction. The Company may pay finder's fees on a portion of the transaction, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation.

Closing of the transaction is subject to approval of the TSX Venture Exchange. All securities issued in the transaction have a hold period of four months and one day from the date of issuance of such securities.