On May 9, 2024, New Zealand Energy Corp., closed the transaction. The transaction included participation from new investor, Charlestown Energy Partners, LLC, for 1,333,333 common shares and other investors. All securities issued in connection with the Private Placement are subject to a hold period that expires on 9 September 2024.

As a part of the transaction, the company paid CAD 211,438 and be issued 56,383 finder's warrants, with each finder's warrant entitling the holder to purchase one common share at a price of CAD 0.75 per share for a period of 18 months from the closing.