On July 29, 2021, Highway 50 Gold Corp. closed the transaction. The company issued 2,644,836 units at a purchase price of CAD 0.35 per unit for gross proceeds of CAD 925,692.60. The transaction included participation from 32 placees including Gordon Leask, the president, chief executive officer and a director of the company, pursuant to the terms of a subscription agreement, subscribed to 142,850 units for total consideration of CAD 49,997.50 thereby increasing its stake from approximately 15% of the issued and outstanding common shares on an undiluted basis and immediately following the closing of the transaction, Gordon Leask approximately a 14.39% interest in the company on an undiluted basis and approximately a 16.12% stake on a partially diluted basis, Megan Cameron-Jones for 85,715 units and 2 pro group participation for 200,000 units. Each warrant entitles the holder to purchase an additional common share at an exercise price of CAD 0.45 cents until July 29, 2023. The securities issued will be subject to a four-month hold period expiring on November 30, 2021. The offering is subject to the final acceptance of the TSX Venture Exchange. In connection with the offering, certain arm's-length finders were paid cash finders' fees totaling CAD 39,489.03 and were issued an aggregate of 112,825 finders' warrants having the same terms as the warrants to Echelon, Haywood, and Research Capital. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.