On January 10, 2017, Vinergy Resources Ltd. (CSE:VIN) closed the transaction. The company issued 10,417,00 units for proceeds of CAD 2,083,400. Each warrant is exercisable to acquire one additional share at a price of CAD 0.40 until January 9, 2018, subject to an early acceleration provision which provides for the mandatory exercise or expiry of the warrants in the event the company's shares close at CAD 0.55 or higher for at least 10 consecutive trading days after the hold period on the shares has expired. In such event, the warrants will accelerate and expire 30 days after the company has given notice of the accelerated conversion to the warrant holders. The company paid finder's fees of CAD 65,840 and issued an aggregate of 329,200 finder’s warrants which are exercisable at CAD 0.40 per share until January 9, 2018. The securities issued are subject to four months and one day hold period until May 10, 2017. On July 6, 2018, the company has extended the expiry date of warrants to January 6, 2019. The original expiry date of warrants was January 9, 2018, which was then extended for 6 months with an expiry date of July 9, 2018. The expiry date has been extended for an additional 6 months.