On December 30, 2022, Quebec Silica Resources Corp. closed the transaction. The company has issued 4,850,000 National flow-through units for gross proceeds of CAD 242,500 and 14,700,000 Québec flow-through units for gross proceeds of CAD 735,000; for an aggregate gross proceeds of CAD 977,500.

The securities issued in the private placement are subject to a four-month hold period expiring on May 1, 2023. In connection with the transaction, finder's fees equal to an aggregate amount of CAD 77,750 were paid, 977,500 compensation shares and 777,500 finder's warrants were issued to arm's length third parties of the company.