On September 17, 2020, Navy Resources Corp. (TSXV:NVY) closed the transaction. The company has issued 11,000,080 common shares for gross proceeds of CAD 2,200,016 in the transaction from 54 placees including Paul Sun for 775,000 shares, Sam Vela for 90,000 shares and 6 placees from pro-group for 1,100,000 shares. The company has paid CAD 41,580 to Haywood Securities Inc. as finder's fees. The securities are subject to hold period expiring on January 17, 2021. TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The company issued 1,125,080 shares for gross proceeds of $170,877 (CAD 225,016) in the transaction pursuant to exemption provided under Regulation D from 5 investors.