On May 12, 2016, PrimeWest Mortgage Investment Corporation closed the transaction. The company issued 185,660 class A shares for gross proceeds of CAD 1,856,600 in second tranche of the transaction. The company has issued 227,970 class A shares for gross proceeds of CAD 2,279,700 in funding so far in the transaction. The securities issued in this tranche are subject to a four month hold period expiring on September 12, 2016. The company paid a finder’s fee of 5% on the sale of the shares that is CAD 0.05 per share to the sales agents in the transaction. PI Financial Corp. acted as the lead sales agent.