On July 14, 2021, Lendified Holdings Inc. closed the transaction. The company issued 36,750,000 subscription receipts in the transaction for gross proceeds of CAD 1,837,500 and 10,400,000 subscription receipts for gross proceeds of CAD 1,317,500 in its second and final tranche. The transaction included participation from 19 investors including professional group consisting of 4 investors for 2,250,000 subscription receipts. The transaction is subject to final approval of TSX Venture Exchange. The filing documentation with respect to the transaction has been accepted by TSX Venture Exchange. On August 6, 2021, the company announced that the escrow release conditions are satisfied.