On March 24, 2023, Tevano Systems Holdings Inc. closed the transaction. The company now announced that it has issued 3,050,000 Units at a price of CAD 0.10 per Unit for aggregate gross proceeds of CAD 305,000 in the second In connection with the second tranche, the Company paid CAD 15,500 in cash, and issued 155,000 Agent Warrants to Canaccord Genuity Corp. Each Agent Warrant entitles the holder thereof to purchase one common share of the Company at an exercise price of CAD 0.20 per common share for a period of 24 months from the closing of the transaction.

All securities issued under the second tranche of the transaction will be subject to a statutory hold period expiring on July 25, 2023, in accordance with applicable Canadian securities laws. The company has received CAD 73,200 pursuant to exemption provided under Regulation D from single investor.