On December 20, 2023, Metal Energy Corp., closed the transaction. The company issued 12,800,000 flow-through units at a price of CAD 0.05 per unit for the gross proceeds of CAD 640,000. The transaction included participation from new individual investors James Sykes and Stephen Stewart. As a part of the transaction, the company paid a finder fee of CAD 43,400 in cash and 854,000 finders warrants were payable to arms length finders in regards to this private placement. Under applicable securities laws in Canada, the common shares and warrants issued are subject to a four-month and one-day hold period from the date of closing of the Offering.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from five placees and 2 existing insiders for 400,000 units.