On December 30, 2022, Romios Gold Resources Inc. closed the transaction. The company amended the terms of the transaction. The company issued 5,200,000 flow-through units for CAD 208,000 in the transaction.

The transaction included participation from insiders of the company for 50,000 units, including four placees, among which two placees belongs to existing insider involvement for 1,250,000 flow-through units. All securities issued are subject to a statutory hold period expiring on May 1, 2023. Qwest Investment Fund Management Ltd. acted as finder in the transaction.

The company paid Qwest Investment Fund Management Ltd. CAD 9,000 in cash and issued 225,000 compensation warrants as fees. Each compensation warrant entitles the holder to acquire one common share of the company at a price of CAD 0.08 until December 30, 2024. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.