On November 28, 2023, West Red Lake Gold Mines Ltd., closed the transaction. The company issued 29,000,000 units at a price of CAD 0.52 per unit for the gross proceeds of CAD 15,080,000. As a part of the transaction, the company paid a cash commission in the amount of CAD 675,376; and issued an aggregate of 1,298,800 non-transferrable broker warrants. Each broker warrant is exercisable to acquire one common share at the offering price until November 28, 2025. The company also paid a cash finders fee in the amount of approximately CAD 12,542 to RedPlug Inc.

On December 1, 2023, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement. The transaction included participation from 85 placees and six insiders.