On January 16, 2024, Cantex Mine Development Corp. closed the transaction. The company received CAD 200,200 in its second and final tranche closing. The company issued 770,000 units at issue price CAD 0.26 per Unit for gross proceeds CAD 200,200 bringing total proceeds CAD 3,000,190. The Company was charged CAD 14,000 in finders fees in connection with the Final Tranche, which was settled with the issuance of 53,846 Units at a deemed price of CAD 0.26 per Unit. The Units issued as settlement of the fees are comprised of 53,846 non-flow through shares and 26,923 warrants; the warrants are exercisable for a period of two years from issuance and have an exercise price of CAD 0.39. The Company also issued 53,846 finders warrants, which have the same terms and conditions as the warrants issued in the Offering. All warrants issued as part of the finders fee are non-transferable. The securities issued in the Final Tranche are subject to a four month hold period, expiring on May 13, 2024.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 14 placees and 1 existing insider for 76,923 non flow-through shares. The company has paid finder's fees of CAD 65,100 and issued 430,766 non flow-through shares and 863,419 warrants.