On July 13, 2015, Colt Resources Inc. closed the transaction. The company issued a total of 21,843,142 units for gross proceeds of CAD 3,822,549.85. The transaction included participation from 25 placees.

The company paid finders' fees of CAD 266,174 equal to 8% of the proceeds received from applicable subscriptions in the private placement and issued non-transferable finders' warrants equal to 8% of the number of units issued and sold on this same portion of the applicable subscriptions, resulting into issuance of 1,325,794 units upon exercise to Mackie Research Capital Corporation, Dundee Securities Ltd., PowerOne Capital Markets Limited, CWN Capital Inc., Stefan Muller, Helmut Finger, and Stefan Reifler. The warrants issued to the finders will be exercisable at CAD 0.25 per unit for a period of 24 months from closing.