On October 16, 2023, Rumbu Holdings Ltd. closed the transaction. The company has now issued 282,500 common shares at a price of CAD 0.20 per share for aggregate proceeds of CAD 56,500. All securities issued in the Private Placement will be held in Trust until the QT has been completed and approved by the TSXV and when issued, will be subject to a statutory hold period of four months from the date of issue. There were no fees or commissions paid in connection with the Private Placement. The transaction has been approved in the Annual and Special Meeting of shareholders of the company.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 14 placees.