On October 30, 2019, Stroud Resources Ltd. (TSXV:SDR) closed the transaction. The company has raised CAD 1,413,509.1 in its second and final tranche by issuing 9,423,394 units. The investor acquired a total of 40.4% of the issued and outstanding common shares of the company. The Private Placement has received conditional acceptance of the TSX Venture Exchange. The Company paid finder’s fees in a cash commission equal to 7% of aggregate proceeds and finder’s warrants in an amount which is equal to 7% of the aggregate number of units sourced by the finder. Each finder’s warrant is exercisable to purchase one common share at an exercise price of CAD 0.20 until August 30, 2021. The Company has extended the expiry date of 750,000 options to purchase Common Shares at the price of CAD 0.50 per common share, from March 10, 2020 to December 31, 2021.