On January 19, 2017, Manalto Limited (ASX:MTL) closed the transaction. The company issued 1,015,000 notes for gross proceeds of AUD 1,015,000. The company issued 25,375,000 options exercisable until January 19, 2020. The company’s directors, James McKerlie, Gary Cox, and Paul Gardner subscribed to notes for gross proceeds of AUD 100,000, AUD 50,000, and AUD 25,000 respectively in the transaction.