On May 25, 2023, MyndTec Inc. closed the transaction. The company announced that it has issued 496,106 units at a price of CAD 0.75 per Unit for aggregate gross proceeds of CAD 372,080.00. Each Unit is comprised of one common share and one Common Share purchase warrant, whereby each Warrant is exercisable to acquire one Common Share at an exercise price of CAD 0.90 per Warrant Share for a period of 36 months following the closing date of the Offering.

The transaction included certain insiders participated in the Offering and acquired, directly or indirectly, an aggregate of 496,106 Units pursuant to the Offering. The company has received funding pursuant to Regulation D from one investor.