On April 22, 2022, Scottie Resources Corp. closed the transaction. The company amended the terms of the transaction pursuant to an agency agreement with Cormark Securities Inc. and Research Capital Corporation raising aggregate gross proceeds of CAD 5,008,000.

The company issued 10,000,000 flow-through common shares of the company at a price of CAD 0.30 per premium flow-through share, 4,000,000 flow-through common shares of the company at a price of CAD 0.25 per traditional flow-through share and 4,800,000 non-flow-through common shares of the company at a price of CAD 0.21 per HD Share. The transaction included participation from 16 placees including Metals Group Inc. for 476,200 shares, one professional group for 746,100 shares. The agents were issued 1,128,000 broker warrants, representing 6% of the number of flow-through and HD shares issued under the offering.

Each broker warrant entitles the holder to purchase one common share of the company at a price of CAD 0.30 per broker warrant share for a period of 24 months from the date hereof. All flow through shares, HD shares, broker warrants and broker warrant shares issued and issuable under the offering are subject to a statutory hold period and may not be traded until August 23, 2022, except as permitted by applicable securities legislation. The offering is subject to the final approval of the TSX Venture Exchange.

The company has received acceptance of TSX Venture Exchange for filing documentation with respect to the transaction.