Each Warrant will entitle the holder thereof to acquire one common share in the capital of the Company (a “Warrant Share”) at a price per Warrant Share of C$2.00 for a period of 24 months from the Closing Date (as defined herein). The Units to be issued under the Upsized Offering pursuant to the Private Placement Exemptions will be subject to a hold period in Canada expiring four months and one day from the closing date of the Upsized Offering. There is an offering document related to the Upsized Offering of Units that can be accessed under the Company’s issuer profile at www.sedarplus.ca and on the Company’s website at www.midnightsunmining.com. The Upsized Offering is subject to final acceptance of the TSXV. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements.