On January 30, 2024, Blue Lagoon Resources Inc., closed the transaction. The company issued an additional 1,250,000 common shares of the company at a price of CAD 0.14 per share for the gross proceeds of CAD 175,000 in its second and final tranche closing. The company issued total 9,107,857 units at a price of CAD 0.14 per unit for total gross proceeds of CAD 1,275,099.98 in the transaction.

The securities issued in connection with the second tranche of the Private Placement will be subject to a four-month hold period ending on May 30, 2024. the transaction included participation from returning investor Crescat Portfolio Management LLC, and other four strategic and sophisticated investors. The company has raised CAD 100,000 ($74,390) from 1 investor pursuant to regulation D.