On February 15, 2017, Minecorp Energy Ltd. (TSXV:MCE) closed the transaction. The company issued 2,389,400 shares for the gross proceeds of CAD 238,940. The company has issued 5,997,400 shares for total gross proceeds of CAD 599,740 in the transaction. The shares issued in final tranche are subject to a hold period expiring on June 15, 2017. The company announced that it has received approval from TSX Venture Exchange with respect to the transaction. The transaction involved participation from 12 placees.