On August 11, 2022, St. James Gold Corp. closed the transaction. The company has raised CAD 636,570.26 in the transaction. The company has issued 60,000 flow-through units at a price of CAD 0.49 per units and 83,000 non-flow-through units at a price of CAD 0.41 per unit for aggregate gross proceeds of CAD 63,430 in its second and final tranche. The total units issued for both tranches is 1,229,674 flow-through Units of the company for CAD 602,540.26 and 83,000 non-flow-through units for CAD 34,030.

The company announced that it has received filing documentation with respect to the transaction. The transaction included participation from 16 placees. The company paid finders fees of CAD 27,440 and issued 56,000 warrants to GloRes Securities, CAD 16,737.82 in cash and issued 30,077 finder's warrants to EMD Financial Inc. Each finders warrants is exercisable into one share at CAD 0.71 per share for a period of three years from closing date.