On September 13, 2023, Lithium One Metals Inc. closed the transaction. The company has issued 4,000,000 common shares at a price of CAD 0.25 per share for total gross proceeds of CAD 1,000,000 in its second and final tranche. The company has raised an aggregate of CAD 1,400,000 in the transaction. The shares are subject to a hold period and may not be traded until Jan. 14, 2024, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange. The transaction included participation from 11 investors.

On September 21, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange.