On January 18, 2023, Chibougamau Independent Mines Inc. closed the transaction. The company has issued 1,750,000 shares at an issue price of CAD 0.10 per share for the gross proceeds of CAD 175,000. The company has raised CAD 520,000 funding till date through common shares.

The TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement. The transaction included participation from 14 placees. Total aggregate existing insider involvement was from three insiders for 1,950,000 shares and aggregate pro group involvement was from one group for 100,000 shares.