On August 25, 2020, Taranis Resources Inc. (TSXV:TRO) closed the transaction. The company has issued 2,520,000 units for gross proceeds of CAD 252,000 in the transaction. The transaction included participation from returning investor, McChip Resources Inc. (TSXV:MCS) for 1,000,000 units. Post closing, McChip Resources Inc. (TSXV:MCS) holds 10,497,000 shares and 6,333,333 warrants of the company, and its stake in the company has increased from 13.36% to 14.26%. The warrants issued in the transaction expire on August 25, 2022. All securities are subject to a hold period expiring on December 26, 2020.

TSX Venture Exchange has accepted filing documentation with respect to the transaction which included participation from 4 placees.