On March 22, 2022, Cypher Metaverse Inc. closed the transaction. The company amended the terms of the transaction and issued 15,749,999 units at a price of CAD 0.07 per unit for gross proceeds of CAD 1,102,499.95. The company paid finders fees to qualified finders of CAD 14,280 and issued 204,000 broker warrants, which are on the same terms as the warrants forming part of the units.

The securities issued pursuant to this tranche are subject to trading restrictions until July 22, 2022. The company issued 2,550,000 units for gross proceeds of CAD 178,500 in its final tranche.