On May 31, 2024, Zephyr Minerals Ltd. closed the transaction. The company issued 4,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 200,000. Each Unit consists of one common share and one transferable common share purchase warrant.

Each Warrant entitles the holder to acquire one common share at a price of CAD 0.08 for a period of thirty-six months from the date of closing. In connection with the Offering, the company paid aggregate finders' fees of CAD 6,563 in cash and issued 131,250 Finders' Warrants to three Eligible Finders, all of whom are at arm's length to the Company. Each Finders' Warrant entitles the holder to acquire one common share at a price of CAD 0.08 for a period of thirty-six months from the date of closing.

All securities issued in connection with the Offering are subject to a statutory four-month hold period The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the TSX Venture Exchange. An insider of the Company acquired 75,000 Units in the Offering for proceeds of CAD 3,750, representing 1.9% of the total proceeds. The company has received $32,998 (CAD 44,999.3726) from 2 investors pursuant to exemption provided under Regulation D.