On December 19, 2022, Lomiko Metals Inc. closed the transaction. The company has issued 18,625,000 flow-through units for gross proceeds of CAD 745,000 in the transaction. The transaction included participation from insider for 18,625,000 flow-through units for gross proceeds of CAD 745,000.

As part of the transaction the company has paid cash finder's fees of CAD 7,500.00 and will issue 187,500 non-transferable finder warrants exercisable at a price of CAD 0.06 per share for a period of two years following closing. The company received TSX-V approval for the transaction. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

The transaction included participation from six placees including existing insider involvement of one placee for 1,875,000 shares.