On March 13, 2024, Waraba Gold Limited closed the transaction. The company has now issued 9,222,599 common shares at a price of CAD 0.03 per common share for aggregate gross proceeds of CAD 276,677.97 in the transaction. The common shares issued under the Private Placement will be subject to a statutory hold period expiring four months and one day from the date of issuance.

The closing and pricing of the Private Placement is subject to the review and approval of the Canadian Securities Exchange. Certain director of the company subscribed for common shares in the transaction. There were no closings on any additional tranches subsequent to the closing of the first tranche.