On October 24, 2023, E2Gold Inc. closed the transaction. The company issued 17,500,000 units at a price of CAD 0.02 per Unit, to raise aggregate gross proceeds of CAD 350,000. Each Unit is comprised of one common share of the Company and one Common Share purchase warrant with each whole Warrant exercisable to acquire one additional Common Share at a price of CAD 0.05 for a period of 24 months from the date of issuance thereof. All securities issued and issuable pursuant to the Offering are subject to a statutory hold period expiring February 25, 2024. The Offering remains subject to the final approval of the TSX Venture Exchange. In connection with the Offering, the Company paid aggregate cash commissions of CAD 14,000 and issued an aggregate of 700,000 broker warrants to eligible registrants, each such broker warrant entitling the holder thereof to acquire one Common Share at an exercise price of CAD 0.05 for a period of two years. Insiders of E2 purchased an aggregate of 7,500,000 Units in connection with the Offering. The transaction included participation from 5 investors including two insider for 5,000,000 units.

On March 7, 2024,, the company announced that the transaction has been approved by the TSX Venture Exchange.