On October 19, 2018, Gentor Resources Inc. (TSXV:GNT) closed the transaction. The transaction included participation from the directors and officers of the company for 3,075,000 shares for gross proceeds of CAD 153,750, including Arnold T. Kondrat for 2,725,000 common shares, which represents 8.04% of the currently outstanding common shares of the company. All securities issued are subject to a hold period of four months. Post the closing of the transaction, Arnold T. Kondrat now holds 16,792,188 shars of the company which represents 49.53% of the outstanding common shares.