On November 28, 2022, TraceSafe Inc. closed the transaction. The company has completed the second and final tranche of units for gross proceeds of CAD 190,000 through the sale of 1,900,000 units at a price of 0.10 per unit. The company has raised total aggregate gross proceeds of CAD 656,000 in the transaction, The transaction was oversubscribed.

The company has paid CAD 18,300 finders fee in cash and 183,000 transferable warrants. Each Finder Warrant is exercisable into one common share at a price of CAD 0.10 for a period of 24 months from the date of issuance. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.