On November 27, 2023, Sona Nanotech Inc. closed the transaction. The transaction included participation from insiders of the company for 175,000 common shares and 87,500 common share purchase warrants. The company paid cash commissions of CAD 53,650 and 268,125 non-transferable share purchase warrants.

Each broker warrant entitles the holder to acquire one share at an exercise price of CAD 0.30 until November 24, 2025. All securities issued pursuant to the financing will be subject to a hold period until March 25, 2024.