On January 23, 2019, Portofino Resources Inc. (TSXV:POR) closed the transaction. The company raised a total of CAD 605,594 in the transaction. The transaction involved participation from 48 placees. All shares issued will be subject to a four-month hold period expiring May 24, 2019. The company paid the finders fees of CAD 43,971 and issued 799,490 broker warrants in the transaction. The broker warrants have the same terms as that of the subscribers. The transaction was oversubscribed. Each unit will consist of one common share and one common share purchase warrant, exercisable at CAD 0.08 for a period of 24 months expiring on January 23, 2021.