On February 10, 2023, DriveItAway Holdings, Inc. closed the transaction. The company has received $85,000 in its second and final tranche. The company has received $760,000 in the transaction.

The total principal amount under the transaction is $835,000. The notes will now bear interest rate of 12%. The company has also amended the warrant agreement to purchase 2,000,000 common shares at a exercise price of $0.05.

The company will pay additional $3,500 under the amendment for legal and due diligence expenses, and disburse the remainder of the proceeds directly to certain service providers of the company.