On February 17, 2023, New Energy Metals Corp. closed the transaction. The company amended the terms of the transaction. The company has issued 5,466,000 units for aggregate proceeds of CAD 1,366,500 in the transaction. The company has issued 2,766,000 units at a price of CAD 0.25 per unit for gross proceeds of CAD 691,500 in its second and final tranche. The company has paid CAD 4,900 as finder fee and issued 19,600 finder's warrants. The finder's warrants are non-transferable, are exercisable at a price of CAD 0.50 per Share for a period of 2 years, and are subject to the same acceleration terms as the warrants issued in the transaction.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 36 placees.

The company has raised CAD 5,054.37 pursuant to Regulation D from a single investor.