On October 31, 2022, Capella Minerals Limited closed the transaction. The company announced it has amended the terms of the transaction. The company has issued 26,893,333 units at an issue price of CAD 0.06 per unit for gross proceeds of CAD 1,613,599.98 in the transaction.

The transaction included participation from one of the directors of the company for 500,000 units. The company has paid finder’s fees of an aggregate CAD 79,791 and issued an aggregate 980,000 share purchase warrants exercisable at CAD 0.12 until October 28, 2024, for a cost of CAD 22,852. The warrants are exercisable until expiry on October 28, 2024.

All shares issued pursuant to the transaction are subject to a hold period trading restriction that will expire on March 1, 2023. The transaction was approved by TSX Venture Exchange.