On August 2, 2023, Rugby Resources Ltd. closed the transaction. The company has issued 23,496,667 units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,174,833.35. The company paid finder?s fees in an aggregate amount of CAD 23,400 to qualified parties in connection with the transaction.

Certain insiders of the company participated in the transaction for an aggregate total of 4,700,000 units. Closing of the transaction is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

The transaction included participation from 32 placees, existing insider involvement of three insiders for 4,700,00 and pro group involvement of four pro groups for 2,200,000.