On December 8, 2023, Cannibble Food-Tech Ltd., closed the transaction. The company issued 2,116,800 units at a price of CAD 0.28 per unit for the gross proceeds of CAD 561,204. Each unit consists of one ordinary share in the capital of the company and one transferable share purchase warrant, with each warrant entitling the holder thereof to purchase a share at an exercise price of CAD 0.4 for a period of 24 months from the date of issuance.

As a part of the transaction, the company paid CAD 44,896 as finder fee and issued 160,344 non-transferable finders' warrants. All securities issued under the private placement, including underlying securities, are subject to a hold period of four months and one day from the date of issue.