On March 27, 2024, Eloro Resources Ltd. closed the transaction. The company issued 3,000,000 Units were issued under the Offering at a price of CAD 1.20 per Unit for total gross proceeds of CAD 3,600,000. Each Unit consists of one common share and one common share purchase warrant.

Each warrant will entitle the holder thereof to acquire one common share at an exercise price of CAD 2, with the expiry date of each warrant being the date which is the earlier of two years following the date of the first closing under the offering, or two business days after completion of a Change of Control of the company; provided that in the event that the volume weighted average trading price of the common shares on the Toronto Stock Exchange is at least CAD 3.00 per share for a period of five consecutive trading days, the expiry date of the warrants may be accelerated by the company to a date that is not less than 30 days after the date of issuance by the company of a press release disclosing the occurrence of the Triggering Event. Two insiders of company participated in the Offering for CAD 74,000.