On May 16, 2024, Max Power Mining Corp. closed the transaction. The company announced that it has received 9,745,744 units at an issue price of CAD 0.195 per Unit for gross proceeds CAD 1,900,420.08.

Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole Warrant is exercisable to acquire one Share at an exercise price of CAD 0.30 per Share for a period of 24 months from the date of issuance, subject to an acceleration clause described in this news release. In connection with the Offering, the company anticipates paying finder's fees consisting of cash finder's fees of CAD 54,858.64 and 281,323 finder warrants issued pursuant to the Offering, exercisable at a price of CAD 0.30 per common share for a period of 24 months following the closing date of the Offering which will also be subject to the above acceleration clause.

The Finder's warrants will be subject to a hold period of four months.