On May 1, 2024, Sego Resources Inc. closed the transaction. The company has received 10,000,000 units at CAD 0.02 per unit for gross proceeds of CAD 200,000 in second and final tranche. Each unit of the financing will consist of one common share and one share purchase warrant.

Each share purchase warrant will entitle the holder to purchase an additional common share at CAD 0.05 for two years from the closing date. The securities issued on closing are subject to the applicable statutory four-month and one-day hold period ending September 2, 2024. Finder's fees will be payable on a portion of the private placement and will consist of 7% cash and 7% broker warrants.

Each broker warrant will entitle the holder to purchase one common share at CAD 0.05 for two years from the closing date. Insiders of the Company subscribed for 6,710,000 of the 10,000,000 units, with J Paul Stevenson subscribing for 1,110,000 units, Strashin Developments Limited, an insider of Sego by virtue of shareholdings, subscribing for 5.000,000 units and MBP Management Ltd., a company owned by Brent Petterson subscribing for 600,000 units.