On September 14, 2023, the company has closed the transaction. The company has issued 8,333,333 Units at a price of CAD 0.12 per Unit for gross proceeds of CAD 1,000,000. Pursuant to the Offering, San Lorenzo paid cash commissions to qualified non-related parties in the amount of CAD 32,646.08 and issued 272,050 broker warrants, each broker warrant entitling the holder to acquire one Common Share at a price of CAD 0.12 per common Share for a period of 18 months from the date of issuance.

The transaction included participation of 40 placees. The TSX Venture Exchange has accepted for filing documentation announced on August 25, 2023.