On December 22, 2022, First Helium Inc. closed the transaction. The company amended the terms of the transaction. The company has issued 12,192,000 units at a price of CAD 0.20 per unit for gross proceeds of CAD 2,438,400 in the oversubscribed transaction.

The transaction included participation from 44 placees including 4 returning insiders acquired an aggregate of 2,025,000 units in the transaction and 3 pro group investors for 1,850,000. The company has pay additional finders' fee totaling CAD 2,450 and 29,750 finder warrants with the inclusion of these additional finders' fees, the company will be paying in total CAD 55,440 and 294,700 finders' warrants to various finders under the placement, exercisable for 24 months from the date of issuance at a price of CAD 0.30 per share.