Prismo Metals Announces Brokered Private Placement of Units for Gross Proceeds of up to $3,016,000

NOT FOR DISSEMINATION OR DISTRIBUTION INTO THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

Vancouver, British Columbia, December 5, 2022 – Prismo Metals Inc. (CSE: PRIZ) (“Prismo” or the “Company”) is pleased to announce that it has entered into an agreement with PI Financial Corp. (the “Lead Agent”) to act as lead agent on behalf of a syndicate of agents (together with the Lead Agent, the “Agents”) in connection with a best efforts private placement of up to 5,800,000 units (each, a “Unit”), at a price of $0.52 per Unit, for maximum aggregate gross proceeds of up to $3,016,000 (the “Offering”).

Each Unit shall be comprised of one common share (“Common Share”) in the capital of the Company and one-half of one (1/2) of a Common Share purchase warrant (“Warrant”) of the Company. Each whole Warrant shall entitle the holder thereof to acquire one additional Common Share at a price of $0.75 for a period of three (3) years from the closing date (the “Closing Date”) of the Offering. The net proceeds from the issuance of the Units will be used for general working capital purposes.

In connection with the Offering, the Company will pay the Agents: (i) cash commission fees of up to 7% of the gross proceeds of the Offering; and (ii) broker warrants in an amount equal to up to 7% of the number of Units issued pursuant to the Offering, exercisable at a price of $0.52 per Common Share for a period of three (3) years following the Closing Date.

All of the Units offered in the Offering shall be offered to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions and will not be subject to resale restrictions pursuant to applicable Canadian securities laws.