On October 19, 2023, Electric Royalties Ltd. closed the transaction. The company amended the terms of the transaction and it will now raise CAD 10,000,000 in the transaction. The lender has also agreed to extend the maturity date of the loan from January 12, 2026 to January 12, 2028. All other terms of the credit facility remain the same. The loan amendment and the drawdown are subject to completion of documentation, the approval of the TSX Venture Exchange and other customary closing conditions.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from one placee including existing insider involvement of one insider for 1,000,000.