On November 1, 2022, European Electric Metals Inc. closed the transaction. No finders fees were paid under the transaction. The securities issued under the transaction will be subject to a four month hold period expiring March 1, 2023 and additional voluntary restrictions on resale agreed to by the subscribers and the company.

The transaction included participation from 55 placees which included three returning insiders who subscribed for a total of 1,300,000 common shares for gross proceeds of CAD 65,000. The professional group involvement included participation from 10 placees for 2,565,000 common shares for gross proceeds of CAD 128,250. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.