On August 17, 2023, the company has issued 9.13 million units at a price of CAD 0.05 per unit for gross proceeds of CAD 456,500 in its first tranche. Each warrant entitles the holder thereof to purchase one common share at a price of CAD 0.075 for a period of 36 months expiring August 17, 2026. Certain directors of the company subscribed for units in the transaction. Broker warrants are exercisable at a price of CAD 0.075 for a period of 36 months expiring Aug. 17, 2026. The unit shares, warrant shares and any common shares that are issuable upon exercise of the broker warrants will be subject to a hold period of four months and one day ending December 18, 2023, in accordance with applicable securities laws. Under the market program, 3,046,000 shares were issued at an average price of CAD 0.1076 for gross proceeds of CAD 327,842 for the three months ended June 30, 2023, and commissions were paid of CAD 6,556.

On September 27, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange. The company paid finder's fees of CAD 20,190 and a total of 403,800 broker warrants. The transaction included participation from 16 placees. The total existing insider involvement is CAD 850,000 from two insiders.