Blacksteel announced that it will issue 5,150,000 common shares at an issue price of CAD 0.08 per share for gross proceeds of CAD 412,000 and 1,700,000 flow-through shares at an issue price of CAD 0.09 per share for gross proceeds of CAD 153,000; aggregate proceeds of CAD 565,000? on February 2, 2023. The company anticipates additional closings in the transaction exceeding CAD 1,000,000 over the course of Q1 and Q2 of 2023.

After completion of the most recent closings under the transaction, the company has 80,600,941 common shares issued and outstanding.