On August 30, 2022, Imperial Metals Corporation closed the transaction. The company has issued unsecured convertible debentures with an aggregate principal amount of $47 million. The transaction included participation from returning individual investor, N. Murray Edwards for $32,500,000 and directors and officers of the company for $2,250,000.

Interest at 8% per annum will be payable semi-annually with the first payment due on February 28, 2023. The convertible debentures mature on August 30, 2027. A maximum of 14,687,500 common shares will be issued if all of the convertible debentures are converted into common shares of the company.