On May 17, 2024, Tower Resources Ltd. closed the transaction. The company issued 3,000,000 units at a price of CAD 0.10 per Unit for gross proceeds of up to CAD 300,000 in second and final tranche. Each Unit is comprised of one common share in the capital of the Company and one non-transferable Common Share purchase warrant. Each Warrant entitles the holder to purchase one common Share at a price of CAD 0.18 for a period of two years from the date of issuance. All securities issued under the offering, including securities issuable on exercise thereof, are subject to a hold period expiring September 18, 2024, in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. The transaction included participation from Stuart Averill who acquired 200,000 units and post acquisition, Averill holds 2,808,621 common shares.

The company announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 10 placees.