On October 20, 2022, Essex Minerals Inc. closed the transaction. The company issued 3,025,000 units in its third and last tranche for gross proceeds of CAD 60,500. The transaction involved participation from a company associated with the company's CEO and president that subscribed for 955,000 units. The company also paid CAD 24,290 and 1,214,500 warrants to Canaccord Genuity Corp and CAD 7,000 and 350,000 warrants to Primary Capital Inc. as finders' fees. All securities issued in the third tranche are subject to a hold period expiring on February 20, 2023. The company has issued CAD 163,899.39692 securities pursuant to exemption provided under Regulation D from 3 investors.

The company has received acceptance from TSX Venture Exchange with respect to the transaction. The transaction included participation from 27 placees including 1 placee for 955,000 units. The company paid finders fees of CAD 38,290 and issued 1,914,500 warrants in the transaction.