On August 25, 2023, Inspire Semiconductor Holdings Inc. closed the transaction. The company amended the terms of the transaction and issued 2,438 units for additional gross proceeds of CAD 2,438,000 in its final tranche for the aggregate gross proceeds of CAD 5,114,000. The transaction has been conditionally approved by the TSX Venture Exchange but it remains subject to the receipt of final approval from the Exchange. The debentures sold in the final tranche have a maturity date of August 25, 2026. The warrants issued in each tranche have an expiry date of three years from their date of issuance. All securities issued pursuant to the closing of the financing are subject to resale restrictions pursuant to applicable securities law requirements until 4 months and one day from their date of issuance. Securities issued in the final tranche are subject to resale restrictions to December 26, 2023.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 48 placees.