On May 30, 2018, Goldbelt Empires Limited (TSXV:GBE) closed the transaction. The company will now go for second tranche. The company announced that it has raised $29,500 in its second tranche. The debentures under this tranche is raised at discount and are payable on May 29, 2019. The company issued debentures in the principal amount of $129,500 under this tranche. The transaction involved participation from James Varanese, Chairman and a director of the Company, who invested $100,000 in the second tranche.