On June 26, 2024, Big Red Mining Corp. closed the transaction. The company has now issued 6,815,000 units at a price of CAD 0.02 per unit for gross proceeds of CAD 136,300.

The company issued 6,815,000 common shares and 3,407,500 warrants expiring June 26, 2025. All securities issued pursuant to the Private Placement are subject to a statutory hold period in accordance with the applicable Canadian securities laws, expiring on October 26, 2024.