On February 13, 2017, Karmin Exploration Inc. (TSXV:KAR) closed the transaction. The transaction included participation from existing investor Karr Securities Inc. which has subscribed over 8,312,000 units immediately after the closing of the transaction, owns and controls 22,665,727 common shares and 4,156,000 warrants, representing approximately 29.7% of the issued and outstanding shares of the company on a non-diluted basis, and approximately 33.3% on a partially diluted basis assuming exercise of the warrants, Alberto Aurelio Arias Dávila has subscribed 1,807,692 units and Jesus Alberto Arias has acquired 6,888,000 units, representing approximately 9.08% of the issued and outstanding common shares, in addition he has acquired ownership of 3,444,000 warrants. Assuming the exercise in full of the 3,444,000 warrants, he will own 10,332,000 common shares, representing approximately 13.03% of the issued and outstanding common shares, on a partially-diluted basis. TSX Venture Exchange has accepted filing for the transaction. The transaction involved participation from two placees.