On May 6, 2015, Smartcool Systems Inc closed the transaction. The company has issued 11,780,000 units for CAD 589,000. TSX Venture Exchange has accepted for filing documentation with respect to the transaction.

12 placees participated in the transaction. The company paid finder's fees of CAD 5,600 and issued 112,000 broker's warrants to Cannacord Genuity Corp. Each broker warrant entitles the holder to purchase one common share of the at an exercise price of CAD 0.10 for a period of 24 months.

The warrants issued in transaction are not transferable. The company has issued CAD 200,000 from three investors pursuant to exemption provided under Regulation D.