On September 26, 2022, Grid Metals Corp. closed the transaction. The company issued 36,000,000 common shares at CAD 0.12 per share for gross proceeds of CAD 4,320,000 in its second tranche.

The transaction included participation from Churchill Strategic Investments Group Pty Ltd, returning investor, Lithium Royalty Corp., Waratah Electrification & Decarbonization Fund (International) LP, a fund managed by Waratah Capital Advisors Ltd. Finders fees for the second tranche consisted of seven million finders warrants exercisable at CAD 0.20 for a period of 3 years and CAD 144,000 cash. Total finders fees paid for the offering consisted of 12,360,000 finders warrants and CAD 355,200 cash. Two entities participated in the offering by acquiring an aggregate of 10,000,000 common shares.

Each of the two entities is under the control and direction of Waratah Capital Partners Ltd. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 33 placees and a total existing insider involvement for 10,000,000 shares.