In May 2021, Cerro Mining Corp. closed and amended the terms of the transaction. The company issued 18,552,000 subscription receipts for gross proceeds of CAD 9,276,000 in its final tranche closing. The receipts are convertible into 18,552,000 common shares and warrants to purchase up to 9,276,000 common shares at CAD 1 per share for a period of two years from closing. The company paid cash finder's fees of CAD 197,550 in relation to the transaction.

The company announced that it has received filing documentation with respect to the transaction. The transaction included participation from 9 placees, including insider, Teresa Lui for 3,625,000 shares, professional groups including Ryan Evin for 12,000 shares, Aaron Chan for 300,000 shares, Yvonne Chan for 150,000 shares, Mike McKenna for 50,000 shares, Kevin Guichon for 21,000 shares, Traci K Benson-Migliarese for 100,000 shares, Marc De Cotiis for 20,000 shares, Bryan Henry for 200,000 shares. The company paid finders fees of 6% to to Haywood Securities Inc., Canaccord Genuity Corp., IA Private Wealth Inc., PI Financial Corp. and Leede Jones Gable Inc.