On June 19, 2023, Transition Metals Corp. closed the transaction. The company issued 9,770,750 units for gross proceeds of CAD 1,000,014. The units included 1,897,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 151,760, 4,250,000 flow through units at a price of CAD 0.10 per flow-through unit for aggregate proceeds of CAD 425,000 and 3,623,750 special flow-through units at a price of CAD 0.1168 per special flow-through unit for aggregate proceeds of CAD 423,254. The transaction included participation from certain officers and directors of the Company. All the units issued in the transaction consists of a common share and a half common share purchase warrant. Each full warrant will entitle the holder to purchase one additional Common Share at a price of CAD 0.15 for a period of 24 months from closing. A finder's fee was paid in connection with the offering to finders that include Haywood Securities Inc., Sherbrooke Street Capital Inc. and Accilent Capital Management Inc., Investment Banking Arm. As part of the transaction the company paid cash finder fee of CAD 28,800, representing an aggregate commission of 6% of the private placement sold to investors introduced by finders.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 33 placees including existing insider involvement of 2 insiders for 284,500 and pro group involvement of 3 pro groups for 1,250,000.