On December 31, 2021, Hanstone Gold Corp. closed the transaction. The company has closed a subsequent follow-on tranche of the non-brokered privateplacement, under which Hanstone issued an additional 300,000 flow-through common shares of the company for gross proceeds of CAD 75,000.

In connection with this follow-on tranche closing, the company paid additional finders' fees in the amount of CAD 5,250 and issued 21,000 non-transferable compensation options, with each option entitling the holder thereof to purchase one common share at an exercise price of 30 cents for 24 months, provided that if the common shares trade at or above 40 cents per share for 10 consecutive trading days, the expiry date of the compensation options will be automatically accelerated to the date that is 30 days after the date the company provides an acceleration notice by press release to the holders of the compensation options. The company has raised a total of CAD 847,500 and has issued an aggregate 2,274,000 flow through common shares for gross proceeds of CAD 568,500; paid aggregate commission fees to eligible finders in the amount of CAD 12,600 and 52,150 non-transferrable compensation options upon the terms described above; and issued no additional units. The closing of this follow-on tranche of the offering is subject to the receipt of approval from the TSX Venture Exchange.

The securities issued under the follow-on tranche are subject to a four-month hold period, expiring on May 1, 2022.