On May 6, 2024, the company announced that it has issued 2,873,000 units at an issue price of CAD 0.25 per unit for the gross proceeds of CAD 718,250 in its first tranche. The company paid cash finder's fees of CAD 4,200 and issued 16,800 finder warrants. The finder warrants are exercisable at CAD 0.30 per share and expire May 3, 2026.

All securities issued in the first tranche of the placement are subject to a statutory hold period until September 4, 2024. The transaction included participation from officers and directors of the company for 900,000 units for gross proceeds of CAD 225,000.