On September 1, 2022, Petroteq Energy Inc. closed the transaction. The company has paid finders' fee of $36,000 and issued them 746,341 non-transferable broker warrants with each broker warrant exercisable to acquire one common share for a period of twenty-four months following the closing at an exercise price of $0.205 per share.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from one placee. The company paid agents' fees of $36,000 cash and 746,341 warrants. Each warrant entitles the holder to purchase one common share at the price of $0.205 for a period of 24 months from the date of issuance.