On August 18, 2023, Golden Horse Minerals Limited closed the transaction. The company issued 15,444,328 shares at a price of CAD 0.08 per share for the gross proceeds of CAD 1,235,546. The company paid 5.5% of the gross proceeds to the finders. The transaction also included participation from ew and existing investors, as well as by members of the company's board of directors and management. The management have subscribed for for an aggregate of 4,938,115 shares under the placement.

The transaction included participation from 24 placees including existing insider involvement of 4 insiders for 4,938,115.