On September 21, 2018, Strategic Oil & Gas Ltd. (TSXV:SOG) closed the transaction. The company received CAD 4,100,000 notes in the transaction. The transaction included participation from 11 placees including Bay Resource Partners, L.P for 693,000 notes, GMT Exploration Company LLC for 128,000 notes, GMT Capital Corp for 103,000 notes, Bay II Resource Partners, L.P for 537,000 notes, Thomas E. Claugus, a director and Chief Executive Officer for 99,000 notes, Bay Resource Partners, L.P for 693,000 notes, BP - Offshore Holdings, L.P for 702,000 notes, Libra Advisors Canada Corp for 636,000 notes and Bay Resource Partners Offshore Master Fund L.P for 1,081,000 notes. The company has received $3,081,629 (CAD 3,978,999.3648) pursuant to exemption provided under Regulation D from eight investors.