On October 27, 2022, Canasil Resources Inc. closed the transaction. The company issued 5,350,991 units at a price of CAD 0.055 for proceeds of CAD 294,305.The closing of the transaction is subject to final acceptance by the TSX Venture Exchange. The company issued 2,268,250 units for gross proceeds of CAD 124,754 in its second and final tranche. All the securities issued under the tranche will subject to a hold period expiring February 27, 2023, and to final acceptance by the TSX Venture Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 10 placees. Four placees, 3,082,741 shares.