On October 13, 2022,Strategic Minerals Europe Corp. closed the transaction. The company upsize the transaction for gross proceeds of up to CAD 1.5 million.

On the same day the company issued 1,017 convertible debenture units at a price of CAD 1,000 per unit for gross proceeds of y CAD 1.017 million. The company expects to close the balance of the transaction in one or more additional tranches. The company paid a finder's fee of CAD 22,500 in units to certain finders in connection with the closing of the first tranche of the transaction.