On November 7, 2022, NexOptic Technology Corp. closed the transaction. The company issued 39,564,053 units at a price of CAD 0.05625 per unit for aggregate gross proceeds of CAD 2,225,477.98.

The transaction included participation from insiders which include three placees for 3,500,000 units. The transaction included participation from Stephen Petranek, director of the company for 500,000 units, Arch Meredith, director of the company for 1,000,000 units, Paul McKenzie, Chief Executive Officer of the company, for 2,000,000 units. The transaction involved participation from 67 placees, including aggregate professional group involvement which include three placees for 1,800,000 units.

Aggregate finder's fees of CAD 32,032.22 were paid in cash and a further 569,462 finder's warrants were issued on the same terms as the warrants. The company has paid finder's fee of CAD 3,575.25 in cash with 63,560 warrants to Canaccord Genuity Corp.; CAD 13,037.72 in cash with 231,782 warrants to Haywood Securities Inc.; CAD 15,419.25 in cash with 274,120 warrants to Research Capital Corp. All securities issued in the Placement are subject to a hold period in Canada expiring on March 8, 2023.

The company has received $412,019 pursuant to exemption provided under Regulation D from 8 investors. The TSX Venture Exchange has accepted for filing documentation with respect to the transaction.