On June 15, 2022, RJK Explorations Ltd. closed the transaction. The company issued additional 4,125,516 units to Great Lakes Nickel Limited following the release to the company from escrow of CAD 453,806.76. The additional units comprise the second and final part of Great Lakes Nickel Limited's 5,916,000 unit subscription. Accordingly, the warrants comprising the additional units will expire on June 15, 2025. The common shares and warrants comprising the additional units are subject to a statutory hold period ending on October 16, 2022. Great Lakes Nickel Limited has undertaken to the TSX Venture Exchange to not exercise the warrants held by it if such exercise would cause investor's ownership of voting shares of the company to exceed 10% of the company's issued and outstanding voting shares. The Offering remains subject to final acceptance by the TSX Venture Exchange.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 3 placees and insider Great Lakes Nickel Limited for 5,916,000 units.