On May 8, 2020, New Carolin Gold Corp. (TSXV:LAD) closed the transaction. The company issued 6,555,000 units for proceeds of CAD 327,750 in the transaction. The company paid finder's fee of CAD 2,120 and issued 42,400 broker warrants to Mackie Research Capital Corporation. Each broker warrant will entitle the holder to purchase one additional common share at a price of CAD 0.10 per share. The transaction included participation from one insider of the company. The transaction included participation from 22 placees including Robert Lunde for 440,000 units.