On March 20, 2023, Baru Gold Corporation closed the transaction. The company has issued 13,136,799 units for gross proceeds of CAD 394,103.97 in the transaction. The company announced that it has issued 7,455,000 units at a price of CAD 0.03 for the gross proceeds of CAD 223,650 in its second tranche. All securities issued in the second tranche of the private placement will be subject to a four-month hold period expiring July 16, 2023. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including acceptance of the TSX Venture Exchange. The company has received CAD 123,650 pursuant to Regulation D. The company will issue securities pursuant to exemption provided under Regulation D.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 9 placees.