On March 8, 2024, Aero Energy Limited closed the transaction. The company has issued 5,693,913 non flow-through units at a price of CAD 0.15 per NFT Unit for gross proceeds of CAD 854,086.95 and 2,907,100 flow-through units at a price of CAD 0.175 per FT Unit for gross proceeds of CAD 508,742.5; for aggregate total gross proceeds of CAD 1,362,829.45 in its second and final tranche closing. The transaction was oversubscribed.

The company has issue total 34,719,349 units for total gross proceeds of CAD 5,900,000 in two tranches. The securities issued pursuant to the second tranche of the Offering will be restricted from trading until July 9, 2024. A total of CAD 94,552 cash was paid and a total of 596,430 finder?s warrants were issued to eligible arm?s length finders in connection with the closing of the second tranche.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and a day. The company has paid CAD 290,201.99 finder's fee and 1,703,955 warrants. The transaction included participation from 1 insider with total existing insider involvement of 143,000 shares and 7 pro groups with total pro group involvement of 2,066,333 shares.

The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement. The company raised CAD 30,103.28 pursuant to Regulation D in the transaction from 2 investors.