On December 12, 2019, Murchison Minerals Ltd. (TSXV:MUR) closed the transaction. The company issued 4,166,667 common share units for gross proceeds of CAD 250,000 and 12,097,356 flow-through units for gross proceeds of CAD 1,052,470 for aggregate gross proceeds of CAD 1,302,467. The transaction included participation of 8 placees including Donald K. Johnson, an insider for 3,962,667 common share units for gross proceeds CAD 237,760 for 6.1% stake in the company and Northfield Capital Corporation (TSXV:NFD.A) for 6,680,000 units at a price of CAD 0.06, for gross proceeds of CAD 400,800.

The company paid a finders fee of CAD 36,770 to BMO Nesbitt Burns and Leede Jones Gable Inc. The transaction was approved by independent directors of the company and is subject to final approval from the TSX Venture Exchange. Post the closing of the transaction, Donald K. Johnson will hold directly and indirectly 20,087,162 common shares, representing approximately 31.05% of the 64,688,449 issued and outstanding common shares of the company.