El Olivar Imperial SAC announced that it has issued 400,000 units at a price of $1 per unit for gross proceeds of $400,000 on January 11, 2017. Each unit consists of 1 class A voting share and 1.5 class A share purchase warrants. Each warrant entitles the holder to purchase one class A voting share at an exercise price of $1 per share for a period of six months.