On February 23, 2024, Rugby Resources Ltd., closed the transaction. The company issued 19,696,665 units at a price of CAD 0.06 per unit for the gross proceeds of CAD 1,181,800. As a part of the transaction, the company paid CAD 31,248 as finder fee in the transaction. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws of Canada. Closing of the offering is subject to receipt of all necessary regulatory approvals and final acceptance by the TSX Venture Exchange. The transaction will include participation from 29 investors including two existing insiders for 2,350,000 units.

On February 26, 2024, the company announced that the transaction has been approved by the TSX Venture Exchange.