On April 21, 2023, Big Tree Carbon Inc. closed the transaction. The company issued 6,000,0000 working capital units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 300,000 in the transaction. The tranche was led on a best-efforts basis by IBK Capital.

The company paid IBK Capital a commission of CAD 20,500 and issued 545,000 broker warrants. Each broker warrant entitles the holder to acquire a working capital unit until April 20, 2025 at a price of CAD 0.05 per broker warrant. One eligible finder was paid a commission of CAD 3,500 and another eligible finder was issued 55,000 broker warrants.

All securities issued are subject to a statutory hold period expiring on August 21, 2023.