On May 16, 2023, Highway 50 Gold Corp. closed the transaction. The company amended the terms of the transaction and now issued up to 1,666,665 common shares to be issued on a flow-through basis at a purchase price of CAD 0.15 per flow-through share for gross proceeds of CAD 250,000 and up to 2,498,567 units at a purchase price of CAD 0.15 per unit for gross proceeds of CAD 374,785 for aggregate gross proceeds of CAD 624,785. The securities issued pursuant to the transaction will be subject to a four-month hold period in accordance with applicable securities laws and the rules of the Exchange expiring on September 17, 2023. In connection with the transaction, Haywood Securities Inc. was paid a cash finder’s fee totaling CAD 37,434.95 and was issued an aggregate of 249,566 finder’s warrants, having the same terms as the Warrants. Gordon Leask subscribed for 33,333 flow-through Shares pursuant to the flow-through offering and 50,000 non-flow-through units through Eagle Putt Ventures Inc, and John Leask subscribed for 50,000 non-flow-through units pursuant to the non-flow-through offering. The company intends to continue the transaction for more than one year. The company received $185,794 (CAD 250,004.4064) from 2 investors pursuant to exemption provided under Regulation D.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 13 placees including existing insider involvement of two insiders for 133,333 units and pro group involvement of two pro groups for 535,000 units.