On June 15, 2023, Shine Minerals Corp. closed the transaction. The company has amended the terms of the transaction.

The company issued 6,401,785 units at an issue price of CAD 0.056 per unit for the aggregate gross proceeds of CAD 358,500. 3,366,071 of the Units are comprised of one common share and one common share purchase warrant for the gross proceeds of CAD 188,500 and 3,035,713 of the Units are comprised of one common share and one-half share purchase warrant for the gross proceeds of CAD 170,000. Each of the 4,883,928 Whole Warrants entitle the holder to acquire one additional common share at a price of CAD 0.075 until June 15, 2024.

No finder's fees or commissions were paid in connection with the Private Placement. The transaction includes participation from 21 placees, certain insiders of the Company acquired 3,035,713 Units with one-half warrants, pursuant to the Private Placement. All securities issued upon closing will be subject to a statutory 4-month and one day hold period.