On April 4, 2022, EnviroMetal Technologies Inc. closed the transaction. The company has issued 1,136,456 units at a price of CAD 0.25 per unit for total gross proceeds of CAD 284,114 in its second and final tranche closing. In total, the company received subscriptions for 14,162,456 units for gross proceeds of CAD 3,540,614. Each warrant entitles the holder to purchase one common share in the capital of the company at a price of CAD 0.50 at any time prior to 5:00 pm PST on March 31, 2024. The expiry date of the warrants is subject to acceleration that is if at any time after July 30, 2022, the closing price of the common shares on the Canadian Securities Exchange exceeds CAD 1.50 for 15 consecutive trading days, then the corporation may send warrant holders notice of acceleration of the expiry date and issue a news release announcing the amended expiry date. The amended expiry date will be no less than 30 days after the date of the news release, which will also be indicated in the notice sent to the warrant holders. The securities issued in connection with the second tranche of the offering are subject to a hold period under Canadian securities legislation which will expire on July 31, 2022. The company paid CAD 16,375 in cash finders' fees and issued 65,500 finder's warrants in connection with the second tranche of the offering. Each finder's warrant entitles the holder to purchase one common share at a price of CAD 0.50 until March 31, 2024. In total, the company paid CAD 59,455 in finders' fees and issued 237,800 finder's warrants in connection with the Offering.

As of same date, the company revised the terms of second tranche and announced that it has issued 1,206,456 units for gross proceeds of CAD 301,614. In total, the company received subscriptions for 14,232,456 units for gross proceeds of CAD 3,558,114. No additional finders' fees or finders' warrants were issued due to the revised Units issued in connection with the offering. The company has received CAD 9,45,402.79 from 9 investors pursuant to regulation D.