On July 8, 2024, Taranis Resources Inc. closed the transaction. The company has now issued 1,353,888 non-flow-through units at a price of CAD 0.27 per unit for the gross proceeds of CAD 365,549.76 and up to 20,000 flow-through units at a price of CAD 0.30 per unit for the gross proceeds of CAD 6,000, for total gross proceeds of CAD 371,549.76. Each NFT Warrant entitling the holder to purchase one additional common share at a price of CAD 0.35 until July 3, 2026.

Each FT Warrant entitles the holder to purchase one additional common share at a price of CAD 0.35 until July 3, 2026. All of the securities issued pursuant to these private placements, including any shares that may be issued pursuant to the exercise of either the NFT Warrants or the FT Warrants, are subject to a hold period in Canada until November 4, 2024