On April 13, 2022, BC Moly Ltd. closed the transaction. The company has issued 6,060,606 for gross proceeds of CAD 1,000,000 in the transaction. Pursuant to the terms of the Offering, the company issued 3,910,606 conventional unit subscription receipts and 2,150,000 flow-through unit subscription receipts and together with the conventional unit subscription receipts. Each conventional unit subscription receipt will be converted into one unit comprised of one common share and one common share purchase warrant with each underlying warrant exercisable for the purchase of one common share at a price of CAD0.22 for a period of five years and each flow-through unit subscription receipt will be converted into one unit comprised of one common share and one underlying warrant. The Subscription Receipts and any underlying securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day from the date hereof. The transaction included participation from certain insiders of the company for 1,000,000 subscription receipts including Pat DiCapo for 600,000 subscription receipts and returning investor Edward Yurkowski of 1095474 B.C. Ltd. for 1,000,000 flow-through unit subscription receipts at a price of CAD 0.165 per receipt for an aggregate gross proceeds CAD 165,000.

On April 28, 2022, the company announced that the TSX Venture Exchange has accepted for filing documentation of the transaction.