On January 10, 2017, Veritas Pharma Inc. (DB:2VP) closed the transaction. The company issued 9,916,590 units at CAD 0.22 per unit for gross proceeds of CAD 2,181,649.8 in transaction. The company has issued 4,916,590 units in second tranche.

The company paid finder's fees of CAD 49,500 and issued to finder's warrants. Each finder's warrant is convertible into one share at a price of CAD 0.30 per finder's warrant share for a period of 18 months from the date of issuance until July 9, 2018, subject to the acceleration clause. All securities issued pursuant to transaction are subject to a hold period expiring on May 10, 2017.