On November 28, 2018, Explor Resources Inc. (TSXV:EXS) amended the terms and closed the transaction. The company has issued 1,300 units for gross proceeds of CAD 1,300,000 in the transaction. The company has issued 100 units for CAD 100,000 in its second and final tranche. Each unit consists of capital amount of CAD 1,000 of secured convertible debentures and 10,000 common share purchase warrants. The notes are secured by a security on Timmins Porcupine West Property. The debenture carries a fixed coupon of 8% per annum and would mature on November 28, 2019. The notes are convertible into common shares of the company at an fixed conversion price of CAD 0.05 per share. Each warrant entitles the holder to purchase one additional common share at a price of CAD 0.10 per share for a period of 12 months until November 28, 2019. Concept Capital Management Ltd. will now hold 14% of the outstanding shares in the company upon conversion of debentures and exercise of warrants. Securities issued are subject to a hold period expiring on March 29, 2019. The transaction is subject to the final approval of the TSX Venture Exchange. There are 6 placees.