On February 14, 2023, Margaret Lake Diamonds Inc. closed the transaction. Insiders participated for 3,000,000 units in the transaction. Each unit consists of one common share in the capital of the company and one transferable common share purchase warrant.

Each warrant will be exercisable to purchase one common share at a price of CAD 0.05 per share within 36 months. All securities issued are subject to a statutory four-month hold period. No finder's' fees were payable in the transaction.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 10 placees including Insider/pro group participation for Two insiders for 3,000,000 units. The company paid CAD 4,909 in share issuance costs in connection to this financing.