On April 27, 2022, AsiaBaseMetals Inc. closed the transaction. The company issued 4,015,000 units at a price of CAD 0.11 per unit for gross proceeds of CAD 441,650. The transaction included participation from 6 placees including, directors of the company Henry Park through Summit Point Capital Partners LP for 900,000 units and Terrylene Penstock, Chief Financial Officer and Director for 1,965,000 units.

Post closing, Terrylene Penstock holds 4,905,015 Shares, 1,965,000 warrants and 300,000 options in the company, and his stake in the company increased from 6.52% stake to 9.99% stake.