On February 18, 2022, Tenth Avenue Petroleum Corp. closed the transaction. The company issued 12,555,000 units for gross proceeds of CAD 3,138,750 in the transaction. The company paid finder's fees of CAD 81,375 to Leede Jones Gable Inc., PI Financial Corp., Echelon Wealth Partners Inc., Research Capital Corp. and Canaccord Genuity Corp. in connection with the transaction. The transaction was oversubscribed.
The TSX Venture Exchange has accepted for filing the documentation with respect to the transaction. The transaction included participation from 98 placees and insiders such as Cameron MacDonald for 100,000 shares and Ronald Hozjan for 100,000 shares. The transaction total pro group involvement 536,000 shares for six placees. The company paid finder's fee of CAD 2,800 in cash payable to Leede Jones Gable Inc., CAD 59,850 in cash payable to PI Financial Corp.; CAD 4,025 in cash payable to Research Capital Corp. and CAD 14,700 in cash payable to Canaccord Genuity Corp.