On December 21, 2022, Rainy Mountain Royalty Corp. closed the transaction. The company issued 11,400,000 flow-through units for proceeds of CAD 399,000, and 2,600,000 non-flow through units for proceeds of CAD 91,000 for gross proceeds of CAD 490,000.

The placement is subject to regulatory approval. Insiders participated in the transaction acquiring an aggregate of 7,400,000 flow-through units on the same basis as other subscribers. Shawn Smith, participated in the placement acquiring 1,400,000 units, Lowell Schmidt acquired direct ownership of 6,000,000 units in the transaction.

The board of directors approved the Placement. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 9 placees.