On January 4, 2023, Compass Gold Corporation closed the transaction. The company issued 10,000,000 common shares at a price of CAD 0.07 per share for aggregate gross proceeds of CAD 700,000. The transaction included participation from insider investors for 2,782,285 shares for proceeds of CAD 194,760.

The company has paid CAD 6,000 as the finder's fees in the transaction. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 14 placees including existing insider involvement of five placees for 2,782,285 shares.

Larry Phillips, the President and Chief Executive Officer of the company, subscribed for 789,729 common shares, Joseph Conway subscribed for 1,178,571 common shares, William Pugliese subscribed for subscribed for 571,428 common shares, Madani Diallo subscribed for 100,000 common shares and James Henderson subscribed for 142,857 common shares.