On January 6, 2021, Hornby Bay Mineral Exploration Ltd. (TSXV:HBE) closed the transaction. The company has issued 64,890,005 subscription receipts at a price of CAD 0.05 per subscription receipts for the gross proceeds of CAD 3,244,500.25. The transaction was over-subscribed. The subscription receipts have been converted into 64,890,005 common shares at a price of CAD 0.05 per subscription receipts and 64,890,005 common share purchase warrants at an exercise price of CAD 0.06 exercisable on January 6, 2024. The company announced that TSX Venture Exchange has accepted filing documentation with respect to the transaction. The transaction involved participation from 76 placees, including insider Simon Marcotte for CAD 3,500,000 and Victor Cantore for 3,500,000 and pro-group involvement for 400,000.