On April 24, 2023, Shoal Point Energy Ltd. closed the transaction. The company has issued 5,550,000 units at a price of CAD 0.05 for the gross proceeds of CAD 277,500. The company has paid 6% finder fees and 6% finder warrants in the transaction.

The transaction is subject to regulatory acceptance and approval. A finders fee of CAD 5,100 and CAD 102,000 Finders Warrants were paid for a portion of the placement.