On December 30, 2022, Québec Nickel Corp. closed the transaction. The company has issued 1,050,000 units at a price of CAD 0.20 per unit for the gross proceeds of CAD 210,000, 1,797,000 national flow-through shares at a price of CAD 0.24 per National FT Share for gross proceeds of CAD 431,280 and 9,688,000 Québec flow-through shares at a price of CAD 0.25 per Québec FT Share for gross proceeds of CAD 2,422,000; for the aggregate gross proceeds of CAD 3,063,280 in its second tranche.

The transaction included participation from its existing shareholders and insiders. The company has paid CAD 157,796.80 in cash commission and issued 752,100 non-transferable compensation options. Each Compensation Option entitles the holder thereof to acquire one Common Share at a price of CAD 0.30 until December 29, 2024.