On May 23, 2024, SPC Nickel Corp. closed the transaction. The company will now issue 30,740,000 Common Share Units at a price of CAD 0.05 per unit for gross proceeds of CAD 1,537,000 and 8,681,818 FT Shares at a price of CAD 0.055 per FT shares for the gross proceeds of CAD 477,499.99, for total gross proceeds of CAD 2,014,499.99.

The Company paid finder fees to certain finders that assisted with the Offering. Such finder fees consisted of the payment of cash commissions totaling an aggregate of CAD 35,850 and the issuance of an aggregate of 681,272 compensation warrants. Each Compensation Warrant is exercisable to acquire one Common Share at an exercise price of CAD 0.07 per Common Share for a period of 18 months following the date of issuance.