On May 17, 2023, Trans Canada Gold Corp. closed the transaction. The company now issued 10,000,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 500,000.

Each Unit will consist of one common share and one common share purchase warrant and each Warrant entitling the holder to purchase one additional common share in the capital of the Company at an exercise price of CAD 0.15 per share for a period of three years from the date of issuance. No finders' fees were paid in connection with the Offering. All of the securities issued in connection with the transaction will be subject to a four month hold period expiring on September 18, 2023.

The transaction included participation from returning investor Daniel Scholefield who has acquired an aggregate of 3,000,000 units at an issue price of CAD 0.05 per unit for the total value of CAD 150,000. Immediately prior to the transaction, Scholefield owned and/or had control or direction over an aggregate of 2,640,400 Shares, representing approximately 7.69% of the issued and outstanding Shares, on an undiluted basis, of which 641,000 Shares are owned directly by investor and 1,999,400 Shares are held by a corporate entity controlled and directed by investor. Immediately prior to the transaction, the investor also owned and/or had control or direction over an aggregate of 200,000 warrants to purchase common shares of the Issuer.

Following completion of the transaction, the investor owns and/or has control or direction over an aggregate of 5,640,400 Shares, representing approximately 12.73% of the issued and outstanding Shares of the Issuer on an undiluted basis, of which 3,999,400 Shares are controlled indirectly through a corporate entity controlled and in addition also owns and/or has control and or direction over 3,200,000 common share purchase warrants, of which 2,000,000 common share purchase warrants are controlled indirectly through a corporate entity controlled. If the investor exercises all of his warrants, he would then own and/or have control over, directly or indirectly, 8,840,400 Shares, representing approximately 18.61% of the issued and outstanding Shares of the Company on a partially diluted basis, assuming that no further Shares of the Issuer have been issued. The company intends to continue the transaction for more than one year.

The company received $259,980 (CAD 350,000) from 5 investors pursuant to exemption provided under Regulation D.