On July 14, 2023, Condor Energies Inc. closed the transaction. The company has amended the terms of the transaction. The company has received $5,390,000 in its second and final tranche.

The company has received $5,900,000 in the transaction and the issuance of 2,345,002 Warrants (including 548,333 Finder?s Warrants) and including $2,840,000 aggregate principal amount due in eight quarterly installments commencing on October 14, 2023, and $2,550,000 aggregate principal amount due at maturity on July 14, 2026. The Warrants expire three years from the date of issuance. Any common shares issued upon exercising Warrants from the Offering will have a hold period of four months and one day from the date the Warrants were issued.