On January 19, 2018, RYU Apparel Inc. (TSXV:RYU) closed the transaction. The company issued 80,742,068 units for gross proceeds of CAD 5,651,944.76 in the final tranche of the transaction. The company received total of CAD 7,999,981.97 in the transaction. The company paid finder's fee of CAD 125,000 and issued 1,785,714 share purchase warrants to one finder, in accordance with the policies of the TSX Venture Exchange. All securities issued in the third tranche are subject to a statutory hold period expiring on May 20, 2018.