On February 15, 2023, Headwater Gold Inc. closed the transaction. The company has amended the terms of the transaction. The company has issued 7,000,000 units at a price of CAD 0.38 per unit for gross proceeds of CAD 2,660,000. The insiders of the company purchased a total of 121,052 units. The finders' fees of CAD 55,085 and 144,960 broker warrants exercisable at CAD 0.55 for a two year term were paid on a portion of the offering. All securities issued are restricted from trading until June 16, 2023.

The company has raised $654,244.96 pursuant to Regulation D from 10 investors.