On April 6, 2022, Monarch Mining Corporation closed the transaction. The company issued 24,000,000 units for the gross proceeds CAD 14,400,000 in the transaction. The transaction included participation from Alamos Gold Inc for 1,666,667 units for CAD 1,000,000.

The insiders participated for 200,000 units. The company has received CAD 4,052,958 from 3 investors, securities issued pursuant to exemption provided under Regulation D.