On December 22, 2023, Peloton Minerals Corporation closed the transaction. The company issued 1,924,500 units at an issue price of CAD 0.09 per unit for gross proceeds of CAD 173,205. Each unit consists of one common share and one common share purchase warrant exercisable for three years at CAD 0.12.

The company paid finder's fees CAD 13,856.40 in cash and 192,450 brokers warrants with each broker warrant exercisable at CAD 0.09 within five years to purchase additional private placement units consisting of one common share and one common share purchase warrant exercisable for five years at CAD 0.12 to IBK Capital Corp. The securities issued in connection with the Private Placement are subject to a hold period expiring four months and one day from the issuance of the securities.