BTU Arranges Flow Through Financing

VANCOUVER, BC / ACCESSWIRE / March 10, 2022 / BTU METALS CORP. ("BTU" or the "Company") (TSXV:BTU) announces a non-brokered private placement financing (the "Private Placement") to raise aggregate gross proceeds of $495,000 by way of issuing 5.5 million flow-through units (the "FT Units") at a price of $0.09 per FT Unit (the "FT Offering"). Proceeds raised from the Offering will be used for ongoing work programs at the Dixie Halo Project located in Red Lake, Ontario, contiguous to Kinross Gold Corp.'s Dixie project (recently acquired by purchase of Great Bear Resources Ltd.), as the Company continues to drill at its high-grade gold targets at Dixie Creek and its VMS targets at TNT. Finders' fees will be payable on the private placement, subject to the policies of the TSX Venture Exchange.

BTU continues to drill on its Dixie Halo property and currently is awaiting assays of 14 drill holes being processed at the lab.

Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.15 for a period of 18 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).

Closing of the offering is subject to approval of the TSX Venture Exchange.

The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

BTU Metals Corp. is a junior, mining exploration company focused on its Dixie Halo project located in Red Lake, Ontario.

ON BEHALF OF THE BOARD
"Paul Wood"
Paul Wood, CEO, Director
[email protected]

FOR FURTHER INFORMATION, PLEASE CONTACT:

Andreas Curkovic, Investor Relations
+1 416-577-9927
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: BTU Metals Corp.