On October 10, 2023, Caravan Energy Corporation, closed the transaction. The company issued 7,262,524 non-flow through units of the company at a price of CAD 0.42 per unit, for gross proceeds of CAD 3,050,251 and 6,000,000 flow-through units of the at a price of CAD 0.50 for the gross proceeds of CAD 3,000,000. The company raised gross aggregate proceeds of CAD 6,050,251 through the offering.

As a part of the transaction, the company paid paid finder's fees and advisory fees comprised of an aggregate of 766,800 broker warrants and CAD 348,994 in cash to certain finders in connection with the sale of units and FT units to purchasers introduced to the company by such finders.