On December 22, 2023, Group Eleven Resources Corp., closed the transaction. The company issued 25,000,000 units at an issue price of CAD 0.12 per unit for gross proceeds of CAD 3,000,000. Each Unit will consist of one common share and one-half of one non-transferrable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of 24 months from the date of issue at an exercise price of CAD 0.18 per warrant share. As a part of the transaction, the company issued 195,100 finder?s warrants and paid cash commissions of CAD 23,412. The transaction included participation from returning individual investor, Michael Gentile subscribed for 1,250,000 units for an aggregate purchase price of CAD 150,000, holding 15.03% of the company?s issued and outstanding common shares on an undiluted basis and approximately 18.43% of the company?s issued and outstanding common shares on a partially diluted basis.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 28 placees including existing insider involvement of 1 insider for 1,250,000 and pro group involvement of 2 pro groups for 2,082,666.