On April 17, 2024, Rio2 Limited closed the transaction. Final acceptance by the TSX Venture Exchange of the Offering is subject to the completion of customary post-closing filings. Certain insiders of the company participated in the Offering and subscribed for an aggregate of 2,438,500 shares for aggregate proceeds of CAD 951,015. The transaction included participation from Eric Sprott for 5,128,500 common shares.

The company received CAD 4,270,632 pursuant to Regulation D and included participation from single investor.