On October 20, 2023, European Energy Metals Corp. closed the transaction. The company issued 5,787,800 units at an issue price of CAD 0,36 per unit for the gross proceeds of CAD 2,083,608.

The transaction was oversubscribed. The transaction included participation from A director of the Company has subscribed for 27,800 Units pursuant to the Private Placement. The issuance of the Units to the director pursuant to the Private Placement.

In connection with the Private Placement, the Company has paid Leede Jones Gable Inc. a cash commission of CAD 140,112 and has paid Raymond James Ltd. a cash commission of CAD 5,040. The Company also issued 695,000 Shares to Leede Jones Gable Inc. as compensation and issued 14,000 Broker Warrants to Raymond James Ltd. as compensation. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance.