On July 20, 2023, MiMedia Holdings Inc. closed the transaction. The company issued 2,800 Debenture Units for aggregate gross proceeds to the Company of CAD 2,800,000. Each Debenture Unit consists of: one CAD 1,000 principal amount unsecured convertible debenture and 1,000 subordinate voting share purchase warrants of the Company. The outstanding principal amount of each Convertible Debenture is convertible at the option of the holder thereof, at any time prior to maturity, into subordinate voting shares of the Company at a conversion price of CAD 0.50 per Subordinate Voting Share. Each Warrant is exercisable to acquire one Subordinate Voting Share at an exercise price of CAD 0.65 until March 14, 2025. The Convertible Debentures mature on March 14, 2026 and bear interest at a rate of 10% per annum, payable in cash or Subordinate Voting Shares, at the option of the Company, on a semiannual basis. The Company has paid to the Agent, a cash commission equal to CAD 137,000 and 274,000 non-transferable compensation warrants. Each Compensation Warrant is exercisable to acquire one unit, consisting of one Subordinate Voting Share and one-half of one Warrant, at an exercise price of CAD 0.50 until March 14, 2025. Each Compensation Unit Warrant will be exercisable to purchase one Subordinate Voting Share on the same terms and conditions applicable to the Warrants.

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement. The transaction included participation from 28 placees including pro group involvement of six pro groups for CAD 730,000. The company paid CAD 137,000 to Canaccord Genuity Corp. and issued 274,000 broker warrants.