On October 29, 2022, Jaxon Mining Inc. closed the transaction. The company amended the terms of the transaction. The company issued 6,900,000 units at a price of CAD 0.025 per unit for aggregate gross proceeds of CAD 172,500.

The transaction involved participation from four investors. The warrants will expire two years from the date of issuance. The transaction is subject to final acceptance of the TSX Venture Exchange.

All securities issued will be subject to a four month hold period, expiring March 2, 2023.