On April 19, 2024, Tony G Co-Investment Holdings Ltd. closed the transaction. The company issued of 4,000,000 units at an issue price of CAD 0.60 per unit for the gross proceeds of CAD 2,400,000. Each Unit shall be comprised of one common share and one whole Common Share purchase warrant.

Each Warrant entitles the holder thereof to acquire one Common Share at a price of CAD 0.75 per Common Share until the date that is one year from the date of issuance. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The transaction included participation from returning investors Gateway Capital Investments Inc acquired 2,000,000 Units and UGA Holding Limited for 2,000,000 Units.

Prior to the completion of the Offering, Gateway held 1,266,951 Common Shares, representing approximately 14.99% of the issued and outstanding Common Shares in the capital of the Company on an undiluted and partially diluted basis. Upon completion of the Offering, Gateway holds 3,266,951 Common Shares and 2,000,000 Warrants, representing approximately 26.24% of the issued and outstanding Common Shares in the capital of the Company on an undiluted basis and approximately 36.45% on a partially diluted basis and prior to the completion of the Offering, UGA held 506,781 Common Shares, representing approximately 6.0% of the issued and outstanding Common Shares in the capital of the Company on an undiluted and partially diluted basis. Upon completion of the Offering, UGA holds 2,506,781 Common Shares and 2,000,000 Warrants, representing approximately 20.14% of the issued and outstanding Common Shares in the capital of the Company on an undiluted basis and approximately 31.19% on a partially diluted basis.