On April 27, 2023, Angus Gold Inc. closed the transaction. The company issued 1,500,000 hard dollar shares at an issue price of CAD 0.72 per hard dollar share for the gross proceeds of CAD 1,080,000 and 5,375,000 flow-through shares at a price of CAD 1 per flow-through Share for the gross proceeds of CAD 5,375,000; aggregate gross proceeds of CAD 6,455,000 which included fully exercised 1,375,000 over-allotment. The transaction included participation from returning investors Delbrook Capital Advisors Inc. who have acquired 1,396,000 common shares of the company and now owns a total of 8,102,300 Common Shares representing 16.5% of the issued and outstanding Common Shares and New Gold Inc purchased 750,000 Common Shares and now owns a total of 4,850,000 Common Shares representing 9.9% of the issued and outstanding Common Shares.

The transaction also included participation from certain other insiders, including directors and officers of the Company subscribed to the transaction for an aggregate of 680,000 Common Shares, bringing the total insider participation in the offering to 2,076,000 Common Shares. The transaction was oversubscribed. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.

All securities issued in connection with the transaction are subject to a four-month and one-day hold period. The transaction included participation 15 placees. The company has paid CAD 4,320 finder fees in the transaction.