On May 2, 2023, EDM Resources Inc. closed the transaction. The company company now issued 3,772,200 hard dollar units at an issue price of CAD 0.50 per unit for the gross proceeds of CAD 1,886,100 and 250,000 flow-through units at an issue price of CAD 0.60 per unit for the gross proceeds of CAD 150,000; aggregate gross proceeds of CAD 2,036,100. Certain directors, officers and other insiders of the Company have acquired a total of 650,000 Units in the transaction, new investor Eric Salsberg for 155,000 units for gross proceeds of CAD 77,500, and returning investor, Fancamp Exploration Ltd. for 390,000 hard dollar units.

Upon closing of the Offering, Fancamp holds 2,738,485 common shares of the company, representing approximately 11.4% of the issued and outstanding shares of company. In connection with the transaction, the Company has paid CAD 95,277 in cash compensation and issued 144,774 finder's warrants to eligible finders for their assistance with the transaction. Each Broker Warrant is exercisable into a Common Share until May 2, 2026.

The securities issued to directors, officers, promoters, consultants, insiders and other persons whose shares will be subject to the hold period required by the Policies of the Exchange which expires September 3, 2023. Prior private placement, the Eric Salsberg directly and indirectly owned 2,445,000 Common Shares representing approximately 12.98% of the issued and outstanding Common Shares. The Eric Salsberg directly and indirectly, 2,600,000 Common Shares, representing approximately 10.81% of the 24,048,943 issued and outstanding Common Shares of after the private placement.

The Eric Salsberg also owns, directly or indirectly, warrants to acquire an aggregate of 155,000 Common Shares. If the Acquiror was to exercise all of these Warrants he would own, directly and indirectly, 2,755,000 Common Shares, representing approximately 11.38% of company outstanding Common Shares, on a partially diluted basis.