On January 6, 2023, Bedford Metals Corp. closed the transaction. The company has amended the terms of the transaction. The company has issued 617 unsecured convertible debentures in the principal amount of CAD 617,000 and 4,502,000 equity units at a price of CAD 0.085 per unit for gross proceeds of CAD 382,670; for an aggregate gross proceeds of CAD 999,670. The transaction includes participation from 92,000 equity units. The debentures mature on January 6, 2028 and bear interest at a rate of eight percent per annum, payable upon the maturity date. Each warrant entitles the holder purchase one common share of the company at a price of CAD 0.115 until January 6, 2028. The principal amount of the Debentures is convertible into common shares of the company, at the option of the holder, at a rate of one Conversion Share for every CAD 0.115 of outstanding indebtedness. Each equity unit will consist of one common share of the company and one Warrant on the same terms as the Offering. All securities issued in connection with the offering are subject to a statutory hold period until May 7, 2023 in accordance with applicable securities laws. No finders' fees or commissions were paid in connection with completion of the offering.

The TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement. The common shares transaction included participation from 13 placees for aggregate existing insider involvement from four placees for 92,000 shares. The debentures transaction included participation from two placees.