On April 8, 2022, iMetal Resources Inc. closed the transaction. The company paid CAD 161,548 and issued 1,289,893 warrants to certain arms-length third parties who assisted by introducing subscribers to the Company. All securities issued in connection with the placement are subject to a statutory hold period until August 8, 2022 in accordance with applicable securities laws.

The transaction included participation from funds managed by Sprott Asset Management LP for flow-through Units and agreed to waive entitlement to 2,644,669 Warrants they would otherwise have been entitled to receive in connection with their subscription. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Jan. 25, 2022, Feb.

2, 2022, and March 8, 2022. The transaction included participation from 81 placees, including an insider of the company Scott Davis, Director subscribed for 400,000 shares, Satvir Singh Dhillon, Chief Executive Officer subscribed for 625,000 shares, and total pro group subscribed for 1,822,000 shares including 9 placees. The company paid finder's fees of CAD 960 cash and issued 8,000 warrants to Haywood Securities Inc., CAD 6,000 cash and issued 50,000 warrants to GloRes Securities Inc., CAD 6,480 cash and issued 48,000 warrants to Sherbrooke Street Capital (SSC) Inc., CAD 148,108 cash and issued 1,183,893 warrants to Research Capital Corp.

Each finders warrant exercisable at price of CAD 0.20 per share for a period of 24 months from issue date.