On December 12, 2023, O3 Mining Inc. closed the transaction. The company has issued 3,726,678 Common Shares at a price of CAD 1.44 per Hard Dollar Share for gross proceeds of CAD 5,366,416, 5,787,254 Common Shares at a price of CAD 1.63 per Tranche 1 FT Share for gross proceeds of CAD 9,433,224, 1,255,555 Common Shares at a price of CAD 1.80 per Tranche 2 FT Share for gross proceeds of CAD 2,259,999, 625,000 Common Shares at a price of CAD 2.40 per Tranche 3 FT Share for gross proceeds of CAD 1,500,000; aggregate gross proceeds of CAD 18,559,639 in the transaction. In consideration for providing certain finder's services to the Corporation in connection with the Offering, the Corporation paid cash finder's fees of an aggregate CAD 196,862 to certain arm's-length finders, representing up to 5% of the gross proceeds received by the Corporation from subscribers that were introduced to the Corporation by such finders. All securities issued under the Offering are subject to a hold period expiring four months and one day from the date hereof. The Offering remains subject to certain conditions including, but not limited to, the receipt of the final approval of the TSX Venture Exchange. The transaction included participation from returning investor Osisko Mining Inc. for 2,430,556 common shares for gross proceeds of CAD 3,500,000.64 increasing its stake to 21.3%. Immediately prior to the Transaction, the Corporation had beneficial ownership of, or control and direction over, 15,861,298 O3 Shares, representing approximately 21.2% of the issued and outstanding O3 Shares. Immediately after giving effect to the Transaction, the Corporation had beneficial ownership of, or control and direction over, 18,291,854 O3 Shares, representing approximately 21.3% of the issued and outstanding O3 Shares on an undiluted basis.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 18 placees including existing insider involvement of 1 insider for 2,430,556 and pro group involvement of one pro group for 10,000.