Investors

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Vancouver, British Columbia, December 07, 2022. Regal Resources Inc. (the “Company” or “Regal”) announces that it intends to complete a private placement financing (the “Financing”) to raise gross proceeds of up to $350,000 through the issuance of units of its securities (the “Units”) priced at $0.10 per Unit. Each Unit will be comprised of one common share (each a “Share”) and one half of one Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable by the holder to acquire an additional Share at an exercise price of $0.20 for a period of two years after issuance.

The Company has applied to the British Columbia Securities Commission (the “BCSC”) for a partial revocation of the cease trade order (the “CTO”) in respect of the securities of the Company issued in 2015, to allow the completion of the Financing. Closing of the Financing remains subject to the grant of the partial revocation order by the BCSC.

The Company expects that the proceeds of the Financing will provide it with sufficient funds to bring its continuous disclosure obligations up to date, pay all related outstanding fees necessary to obtain a full revocation of the CTO, and provide it with sufficient working capital to continue its business. The Company anticipates that, subject to the completion of the Financing, it will be in a position to seek a full revocation of the CTO during the first calendar quarter of 2023.

This news release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.

ON BEHALF OF THE BOARD
Greg Thomas
Chief Executive Officer

For further information contact:
Regal Resources Inc.
Telephone: (604) 512-6041
Email: info@regalres.com

Statements in this news release contain “forward looking information” under Canadian Securities Laws (referred to as “forward-looking statements”). Forward looking statements are based on the Company’s current expectations and estimates concerning future events. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Forward looking statements in this news release include the Company’s plans with respect to completing the Financing, the use of proceeds therefrom, and the partial and full revocation of the CTO. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in the forward-looking statements. Such factors include, among others, receipt of regulatory approvals, the actions of third parties investors who may invest in the Company, and the state of financial markets. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company does not intend to update any forward-looking statement. Forward-looking statements are not guarantees of future performance and accordingly the reader should not place undue on forward looking statements.