On September 25, 2023, Hercules Resources Corp. closed the transaction. The company issued 2,142,858 units for gross proceeds of CAD 150,000 in second and final tranche.

The common share purchase warrant exercisable into one common share until September 25, 2025. All securities to be issued pursuant to the second and final tranche offering will be subject to a statutory holdperiod ending January 26, 2024 under applicable Canadian securities law. No finder?s fees were payable in connection with the second and final tranche.

The transaction is oversubscribed.