On December 4, 2023, The Western Investment Company of Canada Limited closed the transaction. The company issued 9.69% 5,000 convertible unsecured subordinated debentures at a price of CAD 1,000 per debenture for gross proceeds of up to CAD 5,000,000. The company has paid the cash commissions of CAD 6,400 to qualified non-related parties in connection with the closing of the Private Placement. The 2025 Debentures issued pursuant to the Private Placement, and the underlying Common Shares, are subject to a four month and one day hold period and completion of the Private Placement remains subject to the approval of the Exchange. The transaction included participation from certain insiders for CAD 362,000 of the 2025 Debentures issued under the Private Placement.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 17 placees including existing insider involvement of 5 insiders for CAD 497,000 and pro group involvement of one pro group for CAD 150,000.