On January 8, 2024, Meryllion Resources Corp. closed the transaction. The company has now issued a total of 8,011,625 units at a price of CAD 0.04 per unit for gross proceeds of CAD 320,465. The company has paid a finder?s fee of CAD 896 to an eligible finder assisting with the Private Placement and issued 22,400 finder?s warrants to such finder, each finder?s warrant entitling the holder thereof to acquire a common share at an exercise price of CAD 0.07 per share for a period of 24 months. Certain insiders of the company participated in the Private Placement for an aggregate of CAD 143,665. Immediately prior to the Private Placement, David Steinepreis had ownership of, or exercised control or direction over, 6,726,307 common shares and no warrants. Pursuant to the Private Placement, Steinepreis, indirectly through Croesus Mining Pty Ltd., acquired 2,341,625 common shares
and 2,341,625 warrants and now holds, or exercises control or direction over, 9,067,932 common shares and 2,341,625 warrants. Following the Private Placement, Steinepreis common share ownership in the company increased from approximately 22.50% to 23.93%. In the event that Steinepreis was to exercise all of his Warrants, his common share ownership of the company would increase to approximately 28.35%, on a partially-diluted basis. Immediately prior to the Private Placement, Jeremy Edelman had ownership of, or exercised control or direction over, 3,538,976 common shares and no warrants. Pursuant to the Private Placement, Edelman acquired 1,250,000 common shares and 1,250,000 warrants and now holds or exercises control or direction over, 4,788,976 common shares and 1,250,000 warrants. Following the Private Placement, Edelman?s common share ownership in the company increased from approximately 11.84% to 12.64%. In the event that Edelman was
to exercise all of his warrants, his common share ownership of the company would increase to approximately 15.42%, on a partially-diluted basis.