On January 27, 2023, Bayhorse Silver Inc. closed the transaction. The company issued 3,250,000 units for proceeds of CAD 130,000 in second tranche closing. The company issued 12,787,500 units for proceeds of CAD 511,500. The company paid finder's fee of CAD 5,600 and will issue 140,000 finder's warrants. Each finder's warrant is exercisable into one common share of the Company at an exercise price of CAD 0.10, exercisable for a period of 24 months from the date of issuance. The transaction included participation from Graeme O'Neil, Chief Executive Officer for 4,000,000 units.

On February 1, 2023, the company announced that the transaction got approved by TSX venture exchange.