On December 30, 2022, MAS Gold Corp. closed the transaction. The company issued 2,200,000 non-flow-through units at a price of CAD 0.045 per unit for CAD 99,000 and 1,640,000 flow-through units at a price of CAD 0.05 per flow through unit for CAD 82,000 for aggregate gross proceeds of CAD 1,810,000 in the transaction.

The transaction included participation from 11 placees, including one insider for 600,000 units and one pro group for 500,000 units. The company will pay finders' fees on a portion of the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The finder's fee is CAD 3,870 in cash and 80,400 warrants.

Each warrant will entitle the holder thereof to purchase one common share at a price of eight cents for a period of 24 months following the distribution date of the offered security. The common shares issuable from the offering will be subject to a statutory four-month restricted resale period. The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement.