On March 4, 2016, Annidis Corporation closed the transaction. The company issued convertible promissory note for gross proceeds of CAD 200,000 in sixth tranche of transaction. The promissory note would mature on March 4, 2017.

The convertible promissory note issued is convertible into common shares of the company at an exercise price of CAD 0.05 per share. The company has raised CAD 870,000 in transaction. TSX Venture Exchange has accepted for filing documentation with respect to the transaction.