On July 9, 2024, Promino Nutritional Sciences Inc. closed the transaction. The company issued 166,666 Units at a price of CAD 0.18 per Unit for gross proceeds of CAD 29,999.88 in second and final tranche. Each Unit comprised of one common share and one common share purchase warrant.

Each warrant is exercisable to acquire one common share of the Company at a price of CAD 0.30 per share for a period of 24 months from the date of issuance. Together with the first tranche, the Company has issued an aggregate of 9,716,671 Units for gross proceeds of CAD 1,749,000.78. All securities issued in connection with the second tranche are subject to a hold period of four months and one day pursuant to applicable securities laws.

The Company did not pay any finder?s fees, in cash nor securities, in connection with the second tranche.