On May 1, 2024, Targa Exploration Corp. closed the transaction. The company announced that it has issued 6,700,000 hard-dollar unit at an issue price of CAD 0.10 per unit for the gross proceeds of CAD 670,000 in second and final tranche.

A total of 9,750,000 HD Units and 3,500,000 charity flow-through units of the Company were issued under the first and second tranches of the Offering for aggregate gross proceeds of CAD 1,587,500. Each unit will consist of one common share of the company and one-half of a common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 0.25 per warrant share until the date which is 24 months following the closing date.

All securities issued pursuant to the second tranche of the Offering, including Shares issuable upon the exercise of Warrants, are subject to a hold period of four months and one day after the date of closing of the second tranche of the Offering. A total of CAD 2,400 was paid in cash and a total of 24,000 finder's warrants were issued for finder's fees. The finder's warrants will expire on May 1, 2026 and have an exercise price of CAD 0.25.