On August 9, 2022, Kuya Silver Corporation closed the transaction. The company issued 5,718,000 units at a price of CAD 0.45 per unit for gross proceeds of CAD 2,573,100.

On the same date, the company also closed a non-brokered private placement of 1,320,000 units at a price of CAD 0.45 per unit for gross proceeds of CAD 594,000. The company paid agent cash fees of CAD 190,026 and issued 422,280 non-transferrable broker warrants in the transaction. Each broker warrant entitles the holder to purchase one common share at an exercise price of CAD 0.45 for a period of two years following the date hereof. The company has raised CAD 69,648.75 pursuant to exemption provided under Regulation D from 5 investors.