On December 22, 2022, Aurania Resources Ltd. closed the transaction. The company issued 1,827,432 units at an issue price of CAD 0.45 per unit for the gross proceeds of CAD 822,344.4 in the second and final tranche. The company paid CAD 117,840 as the finder's fees to the eligible finders and up to 6% in the finder's warrants. The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV and the securities regulatory authorities. All securities issued and issuable in connection with the Offering are subject to a hold period of four months plus one day from the date of issuance.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 26 placees, an existing insider involvement for 1,111,111 common shares. Each finder's warrant is exercisable at CAD 0.45 per finder's warrant and comprises one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at the price of CAD 0.75 for a period of 24 months.