On September 17, 2020, Pipestone Energy Corp. (TSXV:PIPE) closed the transaction. All the securities in the transaction holds four month period from the date of issuance. The transaction has received the TSX Venture Exchange approval. Post the transaction, the convertible preferred shares represent approximately 30% of the company shares outstanding on a fully diluted basis. The company announced that TSX venture exchange has accepted filling documentation for the transaction. The transaction included participation from 6 placees and pro group involvement including Riverstone Pipestone LP for 52,690 shares, and GMT Capital Corp for 17,310 shares.