On January 4, 2024, Ascendant Resources Inc. closed the transaction. The company has issued 15,817,625 common shares at a price of CAD 0.08 for gross proceeds of CAD 1,265,410 on its second and final tranche closing. The company has now issued total 34,287,000 common shares at a price of CAD 0.08 per share for gross proceeds of CAD 2,742,960 in the transaction.

The transaction included participation from insiders of the company for 3,375,000 common shares at the offering price for gross proceeds of CAD 270,000.