On June 8, 2022, Altima Resources Ltd. closed the transaction. The transaction included participation from two Insiders directly and/or indirectly subscribed for a total of 2,800,000 units from the financing, and accordingly those related parties may acquire up to an additional 2,781,769 common shares. All of these shares will be subject to a hold period under applicable Canadian securities laws expiring on October 8, 2022.

The company received acceptance from the TSX Venture Exchange to close the private placement.