On November 16, 2023, Coelacanth Energy Inc., closed the transaction. The transaction included participation from three investors including two insiders for 750,000 shares. Each common share purchase warrant entitles the holder to purchase one common share of the Company at a price of CAD 0.80 per share expiring on November 16, 2028.

On December 5, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange.