On December 13, 2023, Purepoint Uranium Group Inc. closed the transaction. The company issued 76,190,477 flow-through units at a price of CAD 0.0525 for the gross proceeds of CAD 4,000,000.0425. Each flow-through unit consists of one common share and one common share purchase warrant. Each warrant entitles its holder to purchase one common share at an exercise price of CAD 0.07 per share for a period of 24 months from the date of issuance. All securities issued in connection with the closing of the private placement are subject to a four-month hold period pursuant to the applicable securities laws with an expiry date of April 14, 2024. The company paid CAD 34,779.75 in cash and 4,471,996 non-transferable compensation warrants. Each compensation warrant entitles its holder to purchase one common at an exercise price of CAD 0.0525 per share for a period of 24 months after the closing date. The transaction included participation from 4 investors including one pro group for 381,000 units.

On December 15, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange.