On April 15, 2024, Eagle Bay Resources Corp., closed the transaction. The company issued 7,550,000 units at a price of CAD 0.10 per unit for the gross proceeds of CAD 755,000 in the transaction. Each unit will consist of one common share of the company and one common share purchase warrant with each warrant entitling the holder to purchase one share at a price of CAD 0.15 per share for a period of two years from closing of the Offering.

All securities issued pursuant to the Offering will be subject to a hold period of four months and a day from the closing in accordance with securities laws. Certain directors, officer and a control person to the Company participated in the Offering and purchased a total of 750,000 Units.