On July 11, 2023, Heliostar Metals Ltd. closed the transaction. The company has amended the terms of the transaction. The company has issued 18,919,024 units at an issue price of CAD 0.37 per unit for the gross proceeds of CAD 7,000,038.88. A total of 9,990,200 units of the company at a price of CAD 0.37 per unit for gross proceeds of CAD 3,696,374 and a total of 8,928,824 units were offered directly by the company at the issue price pursuant to a concurrent non-brokered private placement for additional gross proceeds of CAD 3,303,664.88. The company paid the agents a cash commission of CAD 221,782.44 and a corporate finance fee of CAD 30,000 including HST. In addition, the Company issued to the agents 599,412 non-transferable compensation options. Each compensation option entitles the holder to purchase one common share at the Issue Price for a period of 18 months. The company also paid a finder?s fee to 3L Capital Management, LLC in connection with a portion of the non-brokered portion, consisting of a cash fee of CAD 41,400.78. In addition, the company issued the finder 111,894 non-transferable finder?s warrants. Each finder?s warrant entitles the holder to purchase one common share at the issue price for a period of 18 months. the transaction also included participation from 38 placees including certain insiders subscribed for an aggregate of 27,100 units for gross proceeds of CAD 10,027 under the non-brokered portion. The company has received $2,326,116 (CAD 3,084,625.381249) from two investors pursuant to exemption provided under Regulation D.

TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered and brokered private placement. The transaction included participation from 38 placees including aggregate existing insider involvement of 1 placee for 27,100.