On December 22, 2023, Zinc8 Energy Solutions Inc. closed the transaction. The company amended the term of transaction. The company will issue 10,752,500 units at a price of CAD 0.05 per unit for gross proceeds of CAD 537,625.

Each whole warrant entitles the holder to purchase one additional common share of the company at an exercise price of CAD 0.10 until December 22, 2025. In connection with the sale of the units, the company paid a total of CAD 3,200 in cash, and issued 284,800 common shares to eligible finders for certain of the units sold. All securities issued are subject to a hold period until April 23, 2024.

In connection with the Private Placement, Jason Birmingham, director and officer of the company, Simon Fan, director of the company, and Swapan Kakumanu and Christine Pankiw, both officers of the company purchased a total of 1,930,000 Units.