On May 31, 2024, Surge Copper Corp. closed the transaction. The company issued 41,373,414 common shares at a price of CAD 0.095 per share for the gross proceeds of CAD 3,930,474.33 in the transaction.

The purchased shares representing approximately 15% of the issued and outstanding Shares on a non-diluted basis. The transaction will include participation from new investor, African Rainbow Minerals Limited.