On November 15, 2023, Lupaka Gold Corp. closed the transaction. The company issued 500,000 units at a price of CAD 0.06 per unit for gross proceeds of CAD 30,000 in the transaction. All shares issued and warrant shares are subject to a hold period expiring four months plus one day from the closing in accordance with applicable securities laws. Closing of the Placement is subject
to receipt of final applicable regulatory approvals including approval of the TSX Venture Exchange. The transaction included participation from single investor.

On November 23, 2023, the company announced that the transaction has been approved by the TSX Venture Exchange.