On June 5, 2023, Tier One Silver Inc. closed the transaction. The company issued 4,942,000 units at an issue price of CAD 0.25 per unit for gross proceeds of CAD 1,235,500 in its second and final tranche. The company issued total CAD 2,641,000 in the transaction.

In connection with the second tranche, the company paid aggregate cash finders’ fees of CAD 25,380 and issued 101,520 non-transferable finders’ warrants, with each finders’ warrant exercisable for one common share of the Company at the exercise price of CAD 0.35 until April 21, 2025. The company has raised CAD 1,540,139.08 pursuant to exemption provided under Regulation D from 13 investors. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

The transaction included participation from 50 placees, and pro group involvement of two pro groups for 120,000. The company paid CAD 69,210 in finder's fee and issued 276,840 warrants in the transaction.