On July 6, 2023, Nevis Brands Inc. closed the transaction. The company issued 4,805,000 common shares at an issue price of CAD 0.10 per share for gross proceeds of CAD 480,500 in its second and final tranche closing. The company issued 2,402,500 share purchase warrants exercisable for one year at a price of CAD 0.20 per share.

A finder’s fee of CAD 32,235 was paid and the finder was issued 230,250 warrants on the same terms as the private placement warrants. All shares have a hold period expiring November 7, 2023.