On August 18, 2023, Lupaka Gold Corp. closed the transaction. The company issued 700,000 units at a price of CAD 0.06 per unit for gross proceeds of CAD 42,000 in second and final tranche. All Shares issued and Warrant shares are subject to a hold period expiring four months plus one day from the closing date of the second tranche of the Placement in accordance with applicable securities laws. The transaction included participation from 10 investors.

On August 25 2023, the company announced that the transaction has been accepted by the TSX Venture Exchange.