On April 17, 2023, TUGA Innovations, Inc. closed the transaction. The company has issued 244,983 units at a price of CAD 0.06 per Unit for aggregate gross proceeds of CAD 14,698 in the second and final tranche. The transaction included participation from Cesar Barbosa subscribed for 244,983 Units in the transaction.

All securities to be issued under the transaction will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws.