On November 27, 2018, Strategic Oil & Gas Ltd. (TSXV:SOG) closed the transaction. The company has received CAD 15,000,000 in the transaction. The company also issued 76,190,003 common share purchase warrants. Each warrant is exercisable at a purchase price of CAD 0.065625 per share for a period of five years from the closing date. The company paid fees of CAD 300,000 to GMT Capital Corp.