On January 25, 2024, BRS Resources Ltd. closed the transaction. The company issued 5,166,666 units at an issue price of CAD 0.15 per unit for the gross proceeds of CAD 774,999.9 in second and final tranche. The company has raised 7,166,666 units at an issue price of CAD 0.15 per unit for the gross proceeds of CAD 1,074,999.9 in the transaction.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Each Unit consists of one common share and one common share purchase warrant with each Warrant entitling the holder to purchase one common share at a price of CAD 0.15 per common share for a period of three years following the closing of the Offering. Certain insiders participated in the second tranche of the Offering.

The transaction included participation from returning investor Double Black Diamond LP, a fund managed by Carlson Capital, L.P. and new investor Black Diamond Offshore Ltd. collectively acquired for 5,000,000 Units for the gross proceeds of CAD 750,000.