On January 6, 2020, Southern Arc Minerals Inc. (TSXV:SA) closed the transaction. The company has issued 850,000 for gross proceeds of CAD 297,500. The tranche included participation from John Proust. John Proust has subscribed for 2,000,000 shares in total in the transaction and now controls 3,957,733 shares, representing approximately 20.59% of issued and outstanding common shares company. The shares issued in the transaction have a hold period expiring on May 4, 2020. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction includes participation from 10 placees including Neil Subin for 504,950, and Morris Klid, independent director for 155,050 shares.