On March 26, 2024, HYTN Innovations Inc. closed the transaction. The company announced that it has issued 9,980,670 units at an issue price of CAD 0.075 for the gross proceeds of CAD 748,550.25Each unit will be composed of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 0.25 per warrant share for a period of 24 months from the closing date of the offering.

The transaction included participation from Aman Parmar, through his holding company 1428 Investments Inc., an insider of the company, subscribed for 2,666,667 units for a subscription amount of CAD 200,000.03. All securities issued pursuant to the offering are subject to a statutory hold period under applicable Canadian securities laws expiring July 26, 2024, being the date that is four months and one day from the date of closing of the offering.