On December 11, 2020, iMetal Resources Inc. (TSXV:IMR) closed the transaction. The company has received CAD 2,046,790 in the transaction. The company issued 800,000 units for gross proceeds of CAD 88,000 in its final tranche. Each warrant entitles the holder to acquire one additional common share at an exercise price of CAD 0.20 per share until December 9, 2022. In connection with completion of the third tranche of the placement, the Company paid CAD 2,640 and issued 24,000 Warrants to certain arms-length third-parties who assisted by introducing subscribers to the placement. All securities issued in connection with completion of the third tranche of the placement are subject to a statutory hold period until April 10, 2021 in accordance with applicable securities laws. The transaction included participation from 58 placees including CFO Scott Davis for 1,400,000 units, CEO Johan Grandin for 2,100,000 units, Satvir Dhillon for 500,000 units, Satvir Dhillon through Seahawk Capital Corp for 202,700 and pro group for 382,000 units. The company paid CAD 11,440 and 104,000 non-transferable warrants to PI Financial Corp., and CAD 11,528 and 104,800 non-transferable warrants to Haywood Securities Inc.