On December 30, 2021, Precipitate Gold Corp. closed the transaction. The company issued 15,850,000 flow-through units and 6,604,333 non-flow-through units for aggregate gross proceeds of CAD 2,179,390 in the transaction.

The transaction included participation from 47 placees including Jeffrey Wilson, President, CEO & Director for 100,000 flow-through units, Michael Moore for 100,000 flow-through units and professional group consisting of 3 placees for 800,000 units. The transaction was oversubscribed. Final closing of this transaction is subject to final acceptance by the TSX Venture Exchange.

The company paid finders fees to IA Private Wealth Inc. of CAD 11,370 in cash and 123,000 finder's warrants at the price of CAD 0.90 per share, Red Cloud Securities Inc. of CAD 24,500 in cash and 245,000 finder's warrants at the price of CAD 0.10 per share, Research Capital Corp. of 175,000 finder's warrants at the price of CAD 0.10 per share and 194,444 non-flow-through units, Canaccord Genuity Corp. of CAD 14,634 in cash and 162,000 finder's warrants at the price of CAD 0.15 per share, PI Financial Corp.

of CAD 6,480 in cash and 66,000 finder's warrants at the price of CAD 0.10 per share consisting of aggregate commissions of CAD 56,984 cash, 194,444 non-flow through units, and 825,600 finder's warrants. Each non-transferable finder's warrant is exercisable into one common share of the company for a two-year period. Each non-flow-through unit, at a price of CAD 0.90, consists of one non-flow-through common share and one-half of a warrant, with each whole warrant exercisable at CAD 0.15 per share for a two-year period.

The company has received $52,832 (CAD 41,351.6064) pursuant to exemption provided under Regulation D from 2 investors. Canaccord Genuity Wealth Management (USA) Inc. acted as finder to the company and received $2,536 (CAD 1,984.9272) in cash representing 6% and 6% finders warrants pursuant to Regulation D. The filing documentation with respect to the transaction has been accepted by TSX Venture Exchange.