On June 20, 2024, Aston Bay Holdings Ltd. closed the transaction. The company announced that it has 230,000 non-flow through units at an issue price of CAD 0.12 per Unit for the gross proceeds of CAD 27,600 and 3,900,000 flow through shares at an issue price of CAD 0.15 per FT Share, for aggregate gross proceeds of CAD 585,000; aggregate gross proceeds of CAD 612,600. The closing is subject to final acceptance of the TSX Venture Exchange.

Thomas Ullrich participated by purchasing 500,000 FT Shares in the final tranche. In connection with the closing of the final tranche of the Offering, the company has paid cash finder?s fees of CAD 30,600 to one arm?s length finder, representing 6% of the proceeds raised from subscriptions by placees introduced by the finder. Each Unit consists of one Common Share and one common share purchase warrant.

Each Warrant will entitle the holder thereof to acquire an additional common share of the Company at an exercise price of CAD 0.18 per Warrant for a period of 24 months from the date of issuance. The FT Shares acquired by the placees under the final tranche of the Offering are subject to a hold period until October 21, 2024, in accordance with applicable Canadian securities legislation. The final proceeds from the Offering total CAD 4,130,460.