On September 7, 2016,Naikun Wind Energy Group Inc. (TSXV:NKW) closed the transaction. The company issued 9,078,069 units for gross proceeds of CAD 635464.83 The company announced that it has received approval from TSX Venture Exchange with respect to the transaction. The transaction involved participation from 10 placees. Philip Hughes, Chairman of the company has subscribed 714,285 shares, Joseph Houssian, Director of the company has subscribed 1,428,572 shares, Arthur Willms, Director of the company has subscribed 220,000 shares, Michael O'Connor, Chief Executive Officer of the company has subscribed 71,428 shares, David Rehn, Director of the company has subscribed 71,428 shares, ENMAX Generation Portfolio Inc. has subscribed 714,285 shares. The securities issued are subject to a hold period until January 7, 2017. The company issued 71,428 common shares as finder’s fee to Gordon Link. The warrants issued as a part of the transaction will be exercisable until September 6, 2019.