On June 21, 2024, Kodiak Copper Corp. closed the transaction. The company announced that it has issued 5,303,724 charity flow-through units at an issue price of CAD 0.79 per Charity FT Unit for the gross proceeds of CAD 4,189,941.96, 1,293,000 common share units at an issue price of CAD 0.47 per HD Unit for the gross proceeds of CAD 607,710 and 3,840,126 flow-through shares at an issue price of CAD 0.54 per FT Share for the gross proceeds of CAD 2,073,668.04; aggregate gross proceeds of CAD 6,871,320.

The transaction included participation from Chris Taylor, Claudia Tornquist and certain other insiders of the Company. Each Charity FT Unit consists of one common share and one half of one common share purchase warrant. Each HD Unit consists of one non-flow-through Common Share and one-half of one non-flow-through common share purchase warrant.

Each Charity FT Warrant and Warrant issued under the Offering entitle the holder to purchase one nonflow-through common share at an exercise price of CAD 0.65 for a period of 24 months following the closing date. The securities issued under the Offering are subject to a four-month and one day hold period ending on October 22, 2024. The Offering remains subject to final acceptance of the TSX-V. The Offering remains subject to final acceptance of the TSX-V. Insiders of the Company subscribed for a total of 338,200 FT Shares.

The Company paid to eligible finders who introduced subscribers to the Offering finders fees in cash equal to 6% of the gross proceeds from the sales of FT Shares and HD Units to the subscribers arranged by such Finders. In connection with the closing of the Offering, the Company paid finders fees in the aggregate cash amount of CAD 272,790 to arm's length Finders, in compliance with the policies of the TSX-V and applicable securities legislation.