On June 16, 2015, Diversified Resources Inc. (OTCPK:DDRI) closed the transaction. The company received $850,000 in the transaction. The company has received board approval of sale of convertible note for $200,000 in its second and final tranche.

The note will mature on June 16, 2017. The purchaser of the note also received a warrant which allow for the purchase of up to 40,000 shares of the Company's common stock. The warrant has an exercise price of $0.80 per share and expires on June 16, 2017.