On December 11, 2023, Independence Gold Corp. closed the transaction. The company issued 5,402,780 units at a price of CAD 0.18 for the gross proceeds of CAD 972,500 and 9,041,664 flow-through common shares at a price of CAD 0.18 per FT common share for proceeds of CAD 1,627,500 for total proceeds of CAD 2,600,000 under the offering. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share in the capital of the company at an exercise price of CAD 0.24 per common share for a period of 24 months from the date of issue. The company paid aggregate cash finders' fees of CAD 124,207.97cash and issued an aggregate of 670,599 non-transferable finders' compensation warrants in connection with the distribution of FT shares and units to arm's-length subscribers. Each finder's warrant entitles the holder to purchase one common share of the company at a price of CAD 0.24 per common share for a period of 24 months from the date of issue. The transaction included participation from Insiders of the company subscribing for a total of 71,671 units for aggregate proceeds of CAD 12,900.78. The private placement has been reviewed and unanimously approval by the company's board of directors, including the independent directors. In accordance with applicable securities legislation, all securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of the completion of the offering. The transaction was oversubscribed.

On December 12, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange. The transaction included participation from two pro-groups subscribing for a total of 551,111 units. The transaction included participation from 27 placees.