On January 3, 2017, Voyageur Industrial Minerals Ltd. closed the transaction. The company announced that it has received gross proceeds of CAD 108,000 in its second tranche. The company issued 550,001 flow-through common shares and 420,000 units. The company issued a total of 1,710,167 flow-through units and 4,374,870 units for total gross proceeds of CAD 642,706. The transaction included participation from 69 placees, including insiders John Rucci subscribed 166,667 shares, Bradley Willis subscribed 166,667 shares and Brent Willis subscribed 166,667 shares. The company announced that TSX Venture Exchange has accepted filing documentation with respect to the transaction.