On May 12, 2023, Pond Technologies Holdings Inc. closed the transaction. The company issued 725,000 common shares at an issue price of CAD 0.07 for the gross proceeds of CAD 50,750 in the second and final tranche. In aggregate, the company has raised total of 6,024,299 common shares at an issue price of CAD 0.07 for the gross proceeds of CAD 421,750 in the transaction.

The common shares issued pursuant to the final tranche of the transaction are subject to a statutory hold period expiring September 12, 2023.