On June 24, 2022, African Energy Metals Inc. closed the transaction. The company has issued 6,000,000 units for gross proceeds of CAD 300,000. The transaction was over-subscribed. The transaction included participation from insider for 160,000 units.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 7 placees and insiders such as returning investor Michael Townsend of Cannon Bridge Capital Corp. for 160,000 shares.