On January 24, 2023, Clear Blue Technologies International Inc. closed the transaction. The company received total gross proceeds of CAD 2,574,086 in the transaction. The company received CAD 1,304,420 in its second and final tranche.

The transaction included participation from 54 placees including 8 insider investors. In connection with the completion of the final tranche, the company paid cash finder's fees in the amount of CAD 61,230.40 to certain arm's length third parties and issued 727,020 finder warrants. In connection with the second tranche, Pegroco and other Swedish investors contributed CAD 762,500.

All securities issued pursuant to the transaction are subject to a hold period of four months and one day pursuant to applicable securities laws. Completion of the transaction remains subject to the final approval of the TSXV. The total number of shares and warrants issued for both tranches were 36,772,663 and 36,772,663, respectively.