On May 11, 2023, Spanish Mountain Gold Ltd. closed the transaction. The transaction included participation from 13 placees including 5 existing insider for 23,107,144 units. The company intends to continue the transaction for more than one year.

The company received $444,087 (CAD 598,886.846546) from single investor pursuant to exemption provided under Regulation D. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.