On October 24, 2022, Standard Uranium Ltd. closed the transaction. The company issued 9,923,259 units and 24,330,554 flow-through units for gross proceeds of CAD 4,254,530.02 in the transaction. The company issued 750,000 units at a price of CAD 0.11 per unit and 15,386,154 flow-through units at a price of CAD 0.13 per flow-through unit for aggregate gross proceeds of CAD 2,082,700.02 in second tranche.

The company paid finder's fees in second tranche to Red Cloud Securities Inc., and certain other arms-length brokerage firms of CAD 120,012 in cash and 923,169 finder's warrants, each finder's warrant exercisable for one unit at an exercise price of CAD 0.11 per unit until October 21, 2024. All securities issued in the second tranche are subject to a statutory hold period until February 22, 2023. The company has raised CAD 27,500 pursuant to Regulation D in the transaction from single investor.

The transaction is approved by TSX venture exchange.