On December 30, 2016, Groundstar Resources Limited (TSXV:GSA) closed the transaction., The company has issued 2,250,000 shares in its final tranche. The company has issued 8,125,000 shares for the gross proceeds of CAD 162,500 in the transaction. The transaction involved participation from 14 placees including one placee from professionals' group for 1,000,000 shares. The transaction involved participation from Tyron P. Pfeifer, Chief Operating Officer, for 1,750,000 shares and Dale Hammons, Director, for 250,000 common shares representing 13.6% of the issued and outstanding shares. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. All securities issued are subject to a statutory hold period of four months and a day, expiring May 1, 2017.