On January 10, 2023, South Star Battery Metals Corp. closed the transaction. The company issued 434,277 units at price of CAD 0.53 per unit for gross proceeds of CAD 230,166 in its third and final tranche closing.

The company received CAD 4,865,730 total gross proceeds in the transaction. In connection with the transaction, the company issued an aggregate amount of 8,685 brokers' warrants and paid CAD13,810 in cash finders' fees to certain finders. Each finders warrant entitles the holder to acquire one common share of the company at a price of CAD 0.53 for a period of 5 years from the date of issuance, subject to acceleration.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from two placees.