On May 9, 2024, Teako Minerals Corp. closed the transaction. The company has issued 4,271,900 common shares at an issue price of CAD 0.09 per share for the gross proceeds of CAD 384,471 in its second and final tranche closing.

The company has now issued total 10,711,896 common shares for the total gross proceeds of CAD 964,070.64 in the transaction. Under the Offering, the company issued in aggregate 10,711,896 Common Shares which brings the total issued and outstanding share count to 71.599.808. The company did not pay any finder's fees in cash or securities under the Offering.

Fruchtexpress Grabher GmbH & Co KG participated in the Offering and acquired an aggregate of 1,330,000 common shares. The second tranche of the Offering was fully subscribed by the same group of investors from Denmark who had participated in the initial tranche. All of the Common Shares issued under the Offering will be subject to a four-month and oneday statutory hold period.

The transaction was oversubscribed.