On July 6, 2022, Cloud DX Inc. closed the transaction. The company amended the terms of the transaction. The company issued 1,970 secured convertible debentures at a price of CAD 1,000 per Debentures, for gross proceeds of CAD 1,970,000.

Insiders of the company subscribed for CAD 1,005,000 principal amount of debentures. The company paid finder's fees in the amount of 138,333 non-transferable common share purchase warrants and a cash fee of CAD 20,750. Each broker warrant entitles the holder to acquire one common share at a purchase price of CAD 0.15 for a period of two years from the date of issuance.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.