On April 13, 2022, Lovitt Resources Inc. closed the transaction. The company issued 1,884,742 units for gross proceeds of CAD 226,169 in the transaction. The transaction was oversubscribed.

The transaction included participation from 19 placees including James Proudfoot for 50,000 units, Scientific Industrial Systems Inc. through Daniel C. Arnold for 318,075 units. The securities issued pursuant to the offering have a hold period of four months and one day from closing, expiring on August 13, 2022.