On June 15, 2023, Palamina Corp. closed the transaction. Each unit consists of one common share and one warrant.

Each whole warrant is exercisable to acquire one common share at a price of CAD 0.25 for a period of two years after the date of issuance. The transaction included participation from 15 placees includes CEO and director Andrew Thomson, and other directors Christina McCarthy, Sean Spraggett, and Alastair Waddell purchased the a total of 1,370,000 units in the transaction. The company paid an eligible person a cash finder's fee of CAD 2,625 and issued 21,000 finder's warrants equal to six percent of the aggregate number of units sold under the transaction attributable to the finder.

Each finder warrant shall be exercisable to acquire one common share for a period of two years from the closing date at an exercise price of CAD 0.125 per share. All securities issued pursuant to the Offering are subject to a statutory hold period ending October 16, 2023. The offering is subject to TSX Venture Exchange acceptance of regulatory filings.