On December 21, 2022, Engineer Gold Mines Ltd. closed the transaction. The company issued 2,280,000 units at an issue price of CAD 0.025 per unit for the gross proceeds of CAD 57,000 in its second and final tranche. Each warrant is exercisable to purchase one common share of the company at a price of CAD 0.10 per share expiring on December 21, 2027. The company paid CAD 2,000 and issued 80,000 warrants to finders.

On December 22, 2022, the TSX Venture Exchange has accepted for filing documentation with respect to the transaction.