On July 3, 2024, Tower Resources Ltd. closed the transaction. The company announced that it has issued 3,400,000 flow-through units at a price of CAD 0.12 per unit for the gross proceeds of CAD 408,000 on June 27, 2024. Each FT Unit is comprised of one flow-through common share and one non-transferable common share purchase warrant.

Each Warrant entitles the holder to purchase one common share in the capital of the company at CAD 0.18 for a period of two years from the date of issuance. n connection with the Offering, the Company paid a finder?s fee in cash of CAD 24,480, equal to 6% of the gross proceeds raised, and issued 204,000 Warrants, equal to 6% of the total number of FT Units sold, to qualified non-related parties, in accordance with the policies of the TSX Venture Exchange. All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period expiring November 4, 2024, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.