On September 27, 2023, Hemostemix Inc. closed the transaction. The company has issued 2,700,000 units at an issue price of CAD 0.12 per unit for gross proceeds of CAD 324,000 in its second tranche closing. Each full warrant entitling the holder to acquire one common share at a price of CAD 0.25 per common share for a period of 24 months from the closing of the offering, subject to the accelerated expiry provisions. If during any 10 consecutive trading days occurring after four months and one day has elapsed following the closing date of the offering, the weighted average closing sales price of the common shares as quoted on the TSX Venture Exchange is greater than or equal to CAD 0.30 per common share, the company may provide notice in writing to the holders of the warrants that the expiry date of the warrants will be accelerated to the 30th day after the date on which the company issues such press release. Certain directors of the company may participate in the transaction. The company also announces that additional funds were not received in time to be included in a second tranche closing of the private placement announced on June 28, 2023.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 11 placees including existing insider involvement of one insider for 1.25 million and pro group involvement of one pro-group 100,000.