On February 13, 2023, Norseman Silver Inc. closed the transaction. The company has now issued 7,800,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 780,000. Finder's fees of CAD 26,800 in cash and 268,000 Warrants have been paid in connection with the transaction.

The warrants issued to the finders have an exercise price of CAD 0.25 for a period of 18 months from the date of issuance. All securities issued are subject to a statutory four month and one day hold period from the date of issuance pursuant to applicable securities laws of Canada. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.