On January 24, 2023, Zonte Metals Inc. closed the transaction. The company issued 3,093,000 common share units at a price of CAD 0.10 and 6,1800,000 flow through units at a price of CAD 0.125 for the gross proceeds of CAD 1,081,800. In connection with securities sold pursuant to the transaction, the company will paid finders' fees of $47,400 in cash and will issue 384,000 Finders' Warrants to Eligible Finders.

Each Finders' Warrant is exercisable until December 20, 2027, to purchase one common share at a price of CAD 0.20 per share, subject to Exchange Approval. All Finders' Fees are subject to and in accordance with Exchange and regulatory policies and the securities issued pursuant to the transaction will be subject to a four-month and one day statutory hold period. Certain insiders of the Company acquired 1,638,000 Common Share Units at an issue price of CAD 0.10 for proceeds to the Company of CAD 163,800.

Post completion of the transaction, the Company has 68,557,961 shares issued and outstanding.