On May 12, 2023, American Aires Inc. closed the transaction. The company has paid cash commission of CAD 23,076 and issued 459,520 broker warrants. Each broker warrants entitles the holder thereof to acquire one unit at a price of CAD 0.05 per unit for a period of two years from the date of issuance.

Broker warrants are subject to the reduced warrant term. The Company may close additional tranches of the Offering subject to all required regulatory approvals.