On August 31, 2020, Accelerate Resources Limited (ASX:AX8) closed the transaction. The company has issued 14,880,557 shares for the gross proceeds of AUD 428,560 in its second and final tranche closing. The company has received AUD 1,000,000 in funding so far in the transaction. The transaction included participation from directors of the company for 508,905 shares including Grant Mooney for 127,226 shares and Yaxi Zhan for 254,453 shares and Terence Topping and Richard Hill, another director of the company for 4,000,000 shares.