On March 12, 2024, Lion Rock Resources Inc. closed the transaction. The company issued 10,000,000 units at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 1,000,000. Each unit will be composed of one common share and one non-transferable share purchase warrant. Each warrant entitling the holder thereof to acquire one additional common share until March 11, 2026. The company issued 400,000 common shares and 400,000 share purchase warrants in payment of finders' fees with respect to the offering. Each finder's warrant entitles the holder thereof to acquire one common share of the company at a price of CAD 0.20 until March 11, 2026. The common shares and warrants comprising the units, the finders' warrants, and any common shares issued on exercise of the warrants and finders' warrants are subject to a hold period and may not be traded until July 12, 2024, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.
The company raised CAD 44,942.93 ($33,336)pursuant to Regulation D in the transaction from single investor.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 16 placees.