On February 6, 2023, Spot Coffee (Canada) Ltd. closed the transaction. All the common shares issued in connection with this transaction are subject to a statutory four-month hold period in accordance with applicable securities laws, which will expire on June 7, 2023. The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

The transaction included participation from one placee including existing insider involvement of one placee for 1.65 million.