HPIL Holding announced that it will receive CAD 32 million in a round of funding on May 18, 2022. The transaction will include participation from new investor GEM Global Yield Fund LLC SCS, a fund managed by Global Emerging Markets for a 36-month term following the public listing of the company's common stock on the Canadian Stock Exchange. The company has the option to increase the facility to CAD 75.5 million, subject to certain terms and conditions.

The company has issued warrants to investor to purchase up to 3.8% of the outstanding common stock of the company on a fully diluted basis, which will vest in full concurrently with a public listing of company's shares.