On March 22, 2018, Axis Auto Finance Inc. (TSXV:AXIS) closed the transaction. The company issued 10,440,784 subscription receipts at a price of CAD 0.70 for gross proceeds of approximately CAD 7.3 million and extendible convertible unsecured subordinated debentures for gross proceeds of CAD 14.55 million, with an additional CAD 3 million in aggregate principal amount of debentures for aggregate total gross proceeds of approximately CAD 24.85 million. On April 20, 2018, TSX Venture Exchange has accepted the filing documentation with respect to the transaction. The transaction for convertible debenture included participation from seven professional group for CAD 825,000 and for subscription receipts included participation from 18 placees.