On May 17, 2017, Traverse Energy Ltd. (TSXV:TVL) closed the transaction. The transaction involved participation from 24 placees, including one from professionals' group for 200,000 shares and 200,000 warrants. The transaction also involved participation from insiders, Laurie Smith, for 312,500 shares and 312,500 warrants, David van der Lee for 250,000 shares and 156,250 warrants, Robert Libin for 125,000 shares and 125,000 warrants, and other investors. The company has paid the finder's fee of CAD 61,500 to Acumen Capital Finance Partners Limited, CAD 19,500 to Canaccord Genuity Inc., and CAD 12,000 to National Bank Financial Inc.