On April 27, 2022, Fredonia Mining Inc. closed the transaction. The company issued 22,606,779 units at a price of CAD 0.18 per unit for gross proceeds of CAD 4,069,220.22.

On May 9, 2022, The company has received acceptance of TSX Venture Exchange for filing documentation with respect to the transaction.The transaction included participation from 32 placees, and from insiders of the company - Ali-Hossein Mahdavi, for 277,778 units, Estanislao Auriemma, Chief Executive Officer of the company for 277,778 units, Michael Doolan for 140,000 units, Waldo Perez for 555,556 units, and Ricardo Auriemma for 277,778 units.