On December 5, 2023, Golden Spike Resources Corp. closed the transaction. The 3,950,000 units at a price of CAD 0.08 per unit for gross proceeds of CAD 316,000.

Each unit consists of one common share and one-half of one warrant. Each whole warrant is exercisable at CAD 0.10 per common share for 2 years from closing. The transaction included participation from individual investor Eric Sprott, through 2176423 Ontario Ltd. have acquired 2,500,000 Units at an issue price of CAD 0.08 per share for the gross proceeds of CAD 200,000.

Prior to the Private Placement, Sprott beneficially owned or controlled 1,000,000 common shares of the Company representing approximately 2.8 % of the outstanding common shares of the Company on a non diluted basis. As a result of the Private Placement, Sprott now beneficially owns or controls 3,500,000 common shares and 1,250,000 common share purchase warrants of the Company representing approximately 8.7% on a non-diluted basis and 12.0% on a fully diluted basis assuming the exercise of such Warrants. The Company paid finder's fees consisting of CAD 4,800 cash and 60,000 non-transferable warrants.

Each finder's warrant is exercisable at CAD 0.10 per common share until December 5, 2025, on a portion of the Private Placement in accordance with the policies of the Canadian Securities Exchange.