On February 13, 2018, Peat Resources Limited (TSXV:PET) closed the transaction. The company has issued 5,614,245 common shares for gross proceeds of CAD 1,122,849 in the transaction. The company paid 8 placees agent's fee $13,500 and issued 75,000 broker warrants in the transaction, payable to IBK Capital Corp. Each warrant is exercisable at CAD 0.20 per share for a period of five years from the date of issuance. The transaction was accepted by TSX Venture Exchange.