On September 17, 2020, Monarch Gold Corporation (TSX:MQR) closed the transaction. The company issued 9,030,000 quebec flow-through units for gross proceeds of CAD 6,501,600 and 11,404,000 national flow-through units for gross proceeds of CAD 6,500,280, for aggregate gross proceeds of CAD 13,001,880 in the transaction. The transaction included participation from officers and directors for an aggregate of 170,000 national flow-through units for CAD 96,900. The transaction is subjected to a restricted hold period of four months and a day ending on January 18, 2021.