On November 30, 2021, GFG Resources Inc announced that it has closed the transaction. The company issued 6,501,514 units at a price of CAD 0.145 per unit for gross proceeds of CAD 942,719 , 6,261,676 flow-through common shares at a price of CAD 0.17 per flow-through shares for gross proceeds of CAD 1,064,484 and 5,350,000 premium units at a price of CAD 0.207 per premium unit for gross proceeds of CAD 1,107,450; for an aggregate gross proceeds of CAD 3,114,653.The transaction was oversubscribed and included participation from 60 placees including existing and new owners including Brian Skanderbeg, chief executive officer and a director, Richard Johnson, chief financial officer, Patrick Downey, Chair of the company, Brian Booth, a director of the company, and Arnold Klassen a director of the company, for 941,448 units and 553,294 flow-through shares and total pro-group involvement including 5 placees for CAD 1,580,000. In connection with the transaction, the company paid cash finder's fees totaling CAD 8,833, CAD 7,833 to Echelon Capital Markets and CAD 1,000 to Industrial Alliance Securities Inc. If during the exercise period of the warrants, but after the resale restrictions on the common shares have expired, the closing price of the common shares is at a price equal to or greater than CAD 0.36 for a period of 10 consecutive trading days, company will have the right to accelerate the expiry date of the warrants by giving notice, via a new release, to the holders of the warrants that the warrants will expire on the date that is 30 days after the issuance of said news release.

The shares issued in the transaction are subject to a hold period and may not be traded until March 31, 2022. The securities were issued pursuant to regulation D. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.