On February 23, 2023, Q2 Metals Corp. closed the transaction. The company issued 6,250,000 series C flow-through units at a price of CAD 1.04 per unit, 1,350,000 series R flow-through units at a price of CAD 0.75 per flow-through unit and 4,975,000 Non Flow-Through units at a price of CAD 0.5 per non flow-through unit and 333,333 units of the company at a price of CAD 0.75 per unit for 250,000 for aggregate gross proceeds of CAD 10,250,000 in the transaction. The transaction included participation from directors and officers of the company for 33,336 series R units and 200,000 non flow-through units. The company issued 312,500 common shares and 937,000 finder's warrants to Churchill SIG Pty Ltd. 312,500 of the finder's Warrants are each exercisable into one common share at a price of CAD 0.50 per common share for a period of two years, and 625,000 of the finder's warrant are each exercisable into one common share at a price of CAD 1.25 per Share for a period of two years.

The company has raised CAD 274,497.09 pursuant to exemption provided under Regulation D from 5 investors.