On August 3, 2017, MetaStat, Inc. closed the transaction. The company raised an additional $430,000 in the second tranche of the transaction. The company issued 623,696 shares and 229,363 series A-2 convertible preferred stock for gross proceeds of $2,570,000 in the transaction. The company received net proceeds of $2,350,000 after deducting placement agent fees and other offering expenses.