On June 22, 2022, Chakana Copper Corp. closed the transaction. The company has issued 56,739,585 units for aggregate gross proceeds of CAD 6,241,354.35 in the transaction. The company issued 2,899,943 units for the gross proceeds of CAD 318,993.73 in the third and final tranche of the transaction. The company paid aggregate finder's fee of CAD 56,511 and issued 513,736 finder's warrants in connection with the third and final tranche of the private placement. Each Finder's Warrant is exercisable to purchase one share at a price of CAD 0.20 per share for a period of two years from closing of issue. The company may accelerate the expiry of the warrants in the event that for any ten consecutive trading days the closing price of the shares is greater than CAD 0.30. All securities issued under the private placement are subject to a four-month hold period expiring on October 22, 2022.
TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction includes participation from 59 placees including Douglas B. Silver for 590,772 shares, Thomas E. Wharton Jr for 1,000,000 shares, David Kelley for 354,272 shares and John E. Black for 272,727 shares. The company paid finder's fees of CAD 16,478 in cash and 149,800 finders warrants to BCO Consulting Ltd, CAD 180,372.50 in cash and 1,639,750 finders warrants to Leede Jones Gable Inc, CAD 36,000 in cash and 327,273 finders warrants to Sprott Global Resources Investments Ltd, CAD 32,340 in cash and 294,000 finders warrants to Blue Lakes Advisors SA, CAD 1,540 in cash and 14,000 finders warrants to Haywood Securities Inc, CAD 3,888.50 in cash and 35,350 finders' warrants to Canaccord Genuity Corp and CAD 51,082.50 in cash and 464,386 finders warrants. The company issued 250,000 units for gross proceeds of CAD 27,500 from single investor pursuant to exemption provided under Regulation D in the transaction.