On January 6, 2017, Power Metals Corp. (TSXV:PWM) closed the transaction. The company issued 7,103,334 units in its first tranche closing and 6,229,999 in its second and final tranche closing for total gross proceeds of CAD 1000,000. The company announced that the company has received approval from TSX Venture Exchange with respect to this transaction. The securities issued in transaction are subject to regulatory four-month hold period expiring April 21, 2017, and May 4, 2017. The transaction involved participation from 19 placees. Cyrus Driver, Chief Financial Officer of the company has subscribed 400,000 shares, Jeffrey Wareham has subscribed 133,333 shares. The company paid finder's fees of CAD 798 and issued 10,640 non-transferable warrants to Canaccord Genuity Corp. and CAD 16,000 to E.L.F. Consulting, LLC, 96,827 units to Bayswater H.K. Holding Inc. Finder's warrants exercisable at CAD 0.15 per share for a two year period.