On April 19, 2022, First Uranium Resources Ltd. closed the transaction. The company announced that it has amended the terms of the transaction. The company issued 18,480,542 subscription receipts on brokered basis for gross proceeds of CAD 6,468,189.70 and 10,090,741 subscription receipts on a non-brokered basis for gross proceeds of CAD 3,531,759.35.

Each subscription receipt will entitles the holder to receive one common share and one-half of one common share purchase warrant in accordance with the terms of a subscription receipt agreement entered into between the company and Emerging Equities Inc. and Computershare Trust Company of Canada. Each warrant is exercisable into share at a price of CAD 0.50 per warrant share for a period on the date that is twelve months from the issuance date. All securities issued are subject to a statutory hold period of four months plus one day in accordance with applicable securities legislation ending on August 20, 2022.

The company received CAD 373,260 from 6 investors in pursuant to exemption provided under Regulation D.