On December 15, 2022, Avidian Gold Corp. closed the transaction. The company issued 6,170,714 units at an issue price of CAD 0.035 per unit for the gross proceeds of CAD 215,975 in the second and final tranche.

In connection with the transaction, the company paid commissions to certain finders of an aggregate of CAD 9,998 in cash and 285,657 finders warrants (CAD 2,800 first tranche and 80,000 Finders Warrants) plus (CAD 7,198 second tranche and 205,657 Finders Warrants). Each Finder Warrant entitles the holder thereof to purchase one common Share at a price of CAD 0.05 for a period of twenty-four months following the closing of the applicable tranche of the transaction. The closing of the transaction is subject to the receipt of all required regulatory approvals including the approval of the TSXV.

All securities issued and issuable pursuant to the transaction will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 15 placees including existing insider involvement of 4 placees for 1,585,715.