On January 15, 2024, Chakana Copper Corp. closed the transaction. The company issued 54,459,356 units for gross proceeds of CAD 2,178,374.25 in its second and final tranche. The company issued a total of 75,000,851 units for aggregate gross proceeds of CAD 3,000,034 in the transaction. The transaction included participation from returning investor Gold Fields Nazca Holdings Inc. for a total of 15,449,999 units for total proceeds of CAD 618,000 increasing its stake from 17.4% to 18.4 %, and directors and officers of the company for 3,585,852 units for total proceeds of CAD 143,434.09. The company paid aggregate finder?s fees of CAD 102,564 and issued 2,996,100 finder?s warrants in connection with the final tranche of the private placement. Each finder?s warrant is exercisable to purchase one share at a price of cad 0.06 per share for a period of two years from closing of the private placement, subject to acceleration. All securities issued under the final tranche of the private placement are subject to a four-month hold period expiring on May 13, 2024 in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. The final closing of the private placement is subject to all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The company raised CAD 783,400 pursuant to Regulation D in the transaction from 12 investors.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 5 existing insiders for 19,035,851 shares and 5 pro groups for 5,600,000 shares. The company has paid finder's fees of CAD 116,284 and issued 3,339,100 warrants in the transaction.