On July 5, 2022, Stellar AfricaGold Inc. closed the transaction. The company issued 2,206,667 units for gross proceeds of CAD 132,400 in its second and final tranche closing. The company issued a total of 11,046,667 units for gross proceeds of CAD 662,800 in the transaction.

The company will issue warrant to purchase11,046,667 shares of the company. The warrants will be exercisable at a price of CAD 0.15 per share for a period of 2 years. The transaction included participation from 26 placees, including insider Francois Lalonde for 400,000.

The company paid finders' fees of CAD 14,100 cash and 235,000 warrants to Glores Securities Inc., CAD 26,784 cash and 445,867 warrants to Jean-David Moore. The offering is subject to TSX acceptance.