On January 2, 2024, Western Star Resources Inc. closed the transaction. The company paid an initial CAD 2,500 consulting fee to investor in consideration for the services provided to date, which was satisfied through the issuance of 16,666 common shares at a deemed price of CAD 0.15 per share. The company has obtained a waiver from the CSE which would otherwise have required the application of a 4-month hold period on the Fee Shares and the Consulting Fee Shares.

The company intends to seek similar waivers for all other securities issued under the Equity Investment Facility from time to time. The company obtained written approval for the Agreement and the transactions contemplated thereunder from shareholders holding more than 50% of the outstanding shares of the company, as required by the policies of the CSE.