On May 5, 2023, Loncor Gold Inc. announced that it has closed the transaction. The company has issued 3,465,000 units at a price of CAD 0.4 per unit for gross proceeds of CAD 1,386,000 in its second and final tranche, the company has issued total 5,400,000 units gross proceeds of CAD 2,160,000 in the transaction.