On September 27, 2022, Gander Gold Corporation closed the over-subscribed transaction. The company has issued 5,066,925 common shares at a price of CAD 0.27 per share for gross proceeds of CAD 1,368,069.75, 4,833,442 flow-through shares at CAD 0.31 per flow-through share for aggregate gross proceeds of CAD 1,498,367.02 and 2,982,962 charitable flow-through shares at CAD 0.38 per charitable flow-through share for aggregate gross proceeds of CAD 1,133,525.56; for aggregate gross proceeds of CAD 3,999,962.33. The company has paid finders' fee of CAD 228,542.42 in cash and issued 701,742 finders' warrants in total to Haywood Securities Inc., Canaccord Genuity Group Inc., PI Financial Corp., Research Capital Corporation, Aligned Capital Partners Inc., Clarus Securities Inc. The finders' warrants are exercisable at a price of CAD 0.27, CAD 0.31, and CAD 0.38 per share for a period of twelve months from the date of issuance.

All securities issued in the private placement are subject to a hold period of four months and one day following the closing date of the private placement, expiring on January 27, 2023.