On December 30, 2022, Sparton Resources Inc. closed the transaction. The company has issued 1,100,000 flow-through share units for gross proceeds of CAD 88,000 in first tranche. The transaction included participation from individual accredited investors, including five placees.

The securities will subject to hold period unit April 1, 2023. The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement. The company has paid finders' fee equal to 7% cash and 7% share purchase warrant in the transaction.