On May 17, 2024, Tactical Resources Corp. closed the transaction. The company ahs now issued unsecured convertible debentures in the principal amount of CAD 200,000 with an arm's-length lender.

The debentures have a maturity date of May 17, 2026, and may be converted into units of the company at any time from the date of issuance until the maturity date, at a conversion price of CAD 0.10 per unit. The company wishes to clarify that the conversion price, being 10 cents per unit, was incorrectly stated in the initial news release. Each unit is composed of one common share in the capital of the company and one share purchase warrant, with each warrant exercisable into an additional share at the price of CAD 0.15 for a three-year period.

The debentures bear interest at the rate of 10 per cent per annum, computed on the basis of a 360-day year composed of 12 30-day months and paid on the maturity date. Any accrued and unpaid interest may, in the company's sole discretion, be paid in cash or in units at a conversion price equal to the last closing market price of the shares on the TSX Venture Exchange immediately prior to such conversion date, subject to the policies of the TSX-V. The debentures and the underlying warrants issuable upon conversion of the debentures will not be listed or posted for trading on any stock exchange. All securities issued in connection with the private placement will be subject to a statutory resale restriction for four months plus one day from the closing date of the private placement.