On January 31, 2022, Gold Line Resources Ltd. closed the transaction. The company amended the terms of the transaction. The company was to issue up to 28,125,000 units for gross proceeds of CAD 4,500,000. The company issued an aggregate of 25,625,000 units for proceeds of CAD 4,100,000 in its first tranche and is not planning to continue with second tranche. The company paid CAD 206,448 and issued 1,290,300 finder's Warrants to Sprott Global Resource Investments, Ltd., Sprott Capital Partners LP, Canaccord Genuity Corp., Research Capital Corporation, PI Financial Corp., Haywood Securities Inc., and Stephen Avenue Securities Inc. in consideration for introducing subscribers to the private placement. Each finders' warrant is exercisable at a price of CAD 0.16 for a period of 2 years from the date of issuance for one common share in the capital of the company. The transaction included participation from two insiders for an aggregate of 1,625,000 units. A second and final tranche of the private placement of up to an additional CAD 400,000 is expected to close shortly. The completion of the second tranche of the private placement remains subject to approval from the TSX Venture Exchange. All securities issued and issuable under the first tranche of the private placement will be subject to a four month hold period expiring June 1, 2022. Securities issued under any subsequent tranches will be subject to a four month hold period calculated from their date of official closing.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 169 placees, and insiders such as Adam Cegielski, Chief Executive Officer and Director, for 625,000 units; Toby Pierce, Independent Chairman of the Board, for 625,000 units; total pro group for 1,000,000 units. The company also paid agents' fees to Haywood Securities Inc. of CAD 14,628 in cash and issued 91,425 finder's warrants, PI Financial Corp. CAD 7,020 in cash and issued 43,875 finder's warrants, Canaccord Genuity Corp. CAD 3,840 in cash and issued 24,000 finder's warrants, Sprott Capital Partners LP CAD 47,400 in cash and issued 296,250 finder's warrants, Sprott Global Resource Investment Ltd. CAD 125,604.48 in cash and issued 785,028 finder's warrants, StephenAvenue CAD 960 in cash and issued 6,000 finder's warrants, and Research Capital Corp. CAD 1,500 in cash and issued 9,375 finder's warrants. Each finder's warrant is exercisable to purchase one common share at an exercise price of CAD 0.16 for a two-year period.