On October 19, 2022, Pasofino Gold Limited closed the transaction. The company amended the terms of the transaction. The company issued 10,600,000 units at a price of CAD 0.50 per unit for gross proceeds of CAD 5,300,000.

Certain insiders subscribed for 2,976,434 Units. A total of 10,617,843 common shares and 4,065,332 Warrants were issued pursuant to the transaction. In connection with the transaction, the company paid a finder's fee of CAD 1,750 in cash and 3,500 warrants to Red Cloud Securities Inc. Each finders warrant is exercisable at CAD 0.50 for an 18-month period.

The transaction included participation from a total of 23 placees. The certain directors, and officers of the Company participated in the offering as to 2,976,434 units.