On July 31, 2023, Norsemont Mining Inc. closed the transaction. The company announced hat it has issued 3,125,000 units at a price of CAD 0.20 per Unit for gross proceeds of CAD 625,000 in the transaction. Each Unit consists of one common share and one-half of one transferable common share purchase warrant.

Each Warrant entitles the holder thereof to acquire one Share at a price of CAD 0.30 per Warrant Share until on or before July 31, 2025. The transaction included participation from Marc Levy, , purchased 625,000 Units under the Offering for a total consideration of CAD 125,000. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.

Immediately after the closing of the Offering Levy owned, directly and indirectly, 1,178,003 Shares representing approximately 1.98% of the issued and outstanding shares of the Company, and Sandher owned, directly and indirectly, 581,375 Shares representing approximately 0.98% of the issued and outstanding shares of the Company.