On December 22, 2017, Rizal Resources Corporation (TSXV:RZL) closed the transaction. The company announced that the transaction will involve participation from 9 investors. The convertible notes will be convertible into 32,333,520 share purchase warrants to purchase 32,222,520 shares. The TSX Venture Exchange has accepted for filing the documentation with respect to the transaction. On April 13, 2017, the company announced that it has received AUD 1,900,000 (CAD 1,895,610) in an undersubscribed transaction. The transaction has been conditionally approved by TSX Venture Exchange. The company will pay 5% of the gross proceeds of the transaction as agency fees to agents. The conversion was made through www.oanda.com on April 13, 2017.