Abitibi Metals Corp. closed the transaction on December 18, 2023. The company issued 14,592,834 common shares at an issue price of CAD 0.30 per share for gross proceeds of CAD 4,377,850.2. The transaction included participation from Frank Giustra, Greg Chamandy and other strategic investors.

The company paid finder's fees of CAD 9,450 and 31,500 finder?s warrants, the Finder?s Warrants are exercisable at CAD 0.30 per Share for a period of two years from the closing date of the Offering. All securities issued are subject to a four-month and one-day hold period pursuant to securities laws in Canada, expiring on April 16, 2024.