On February 4, 2022, Harfang Exploration Inc. closed the transaction. The company announced that it has issued 7,727,271 subscription receipts for gross proceeds of approximately CAD 4,250,000. There were nine placees.

The transaction involved participation from Monarch Mining Corporation for CAD 1,500,000, returning investor Caisse de dépôt et placement du Québec for CAD 1,000,000, and several other Québec institutional funds for approximately CAD 1,600,000 have participated in the offering, certain directors have also participated in the offering for an amount of approximately CAD 150,000. Andre Gaumond at 9163-9971 Quebec Inc. acquired 181,820 subscription receipts for CAD 100,001 and Jean-Pierre Janson acquired 90,909 subscription receipts for CAD 49,999.95. All securities issued pursuant to the offering are subject to a hold period that will expire four months and one day from the closing date of the offering, in accordance with applicable securities laws in Canada.

The TSX Venture Exchange has accepted for filing documentation.