On September 28, 2023, Tevano Systems Holdings Inc. closed the transaction. Each warrant will entitle the holder to purchase one additional share at a price of CAD 0.20 on or before September 28, 2025. The company will be entitled to accelerate the expiry date of the warrants to the date that is 30 days following the date of a news release is issued by the company announcing that the trading of the shares on the Canadian Securities Exchange is at a price greater than CAD 0.40 for a period of ten consecutive trading days.

All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation ending on January 29, 2024.