On December 22, 2022, Xander Resources Inc. closed the transaction. The company issued 17,602,143 flow-through units at an issue price of CAD 0.035 per unit for gross proceeds of CAD 616,075, 11,427,273 Quebec flow-through shares for gross proceeds of CAD 0.055 per unit for gross proceeds of CAD 628,500 and 1,714,286 hard-dollar units at a price of CAD 0.035 per unit for gross proceeds of CAD 60,000 for aggregate proceeds of CAD 1,304,575. Each unit consists of one share and one warrant exercisable into shares at seven cents per share for a period of three years from the date of closing. In connection with the private placements, the company paid finders' fees totaling CAD 84,411 cash, 1,252,309 finder's warrants and 713,714 broker warrants to arm's-length parties in accordance with applicable securities laws. Finder's warrants for the flow-through units are exercisable at seven cents per share for a period of two years from the closing date while finder's warrants for the flow-through shares are exercisable at a price of seven cents per share for a period of three years from the closing date. Broker's warrants are exercisable into broker units at a price of CAD 0.035 per broker unit for a period of two years from the date of closing. Each broker's unit is exercisable into shares and non-transferable warrants exercisable into shares of the company at seven cents per share for a period of two years from the date of closing. All securities issued in the private placements are subject to the exchange hold period expiring on April 22, 2023.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 3 placees for flow-through shares, 29 placees for flow-through units and a 1,435,000 FT units for 1,435,000 flow-through units, one placee for common share unit. The company paid finders fees of CAD 43,995 in cash and issued 799,909 warrants, with each finder warrant being non-transferable and shall be exercisable into common shares at a price of CAD 0.07 per finder's warrant for a period of three years from the date of issuance as part of common shares transaction; CAD 4,200 in cash and issued 120,000 warrants with finder's warrants being non-transferable and shall be exercisable into shares at a price of CAD 0.07 per finder's warrant for a period of three years from the date of issuance in the common share unit transaction; and CAD 36,216 in cash and issued 1,046,114 warrants with 332,400 finder's warrants being non-transferable and shall be exercisable into common shares at a price of CAD 0.07 per finder's warrant for a period of two years from the date of issuance, and 713,714 finder's warrants being non-transferable and shall be exercisable into broker units at a price of CAD 0.035 per finder's warrant for a period of two years from the date of issuance in the flow-through units transaction. Each broker unit consists of one share and one warrant.