On January 13, 2022, Naturally Splendid Enterprises Ltd. closed the transaction. The company issued 37,348,532 units for gross proceeds of CAD 1,120,455.96 in its second and final tranche and issued 109,032,378 units for gross proceeds of CAD 3,270,971.34 in the transaction. The transaction included participation from Bryan Carson, chief financial officer, vice president of operations and co-founder, for 3,333,333 units, J. Craig Goodwin, chief executive officer, president, director, and co-founder, for 4,000,000 units and Lawrence Gilmour, director, for 251,38 units, 58 placees and other investors.

The financing has been oversubscribed by CAD 270,971.34. Under the second tranche, the company paid finders' fees of CAD 4,900 and 303,338 non-transferable warrants to Clarus Securities Inc. leading to total fee of CAD 42,700 cash and 1,423,338 non-transferable warrants, CAD 7,035 and 234,500 non-transferable warrants to Research Capital Corp., CAD 3,500 and 116,666 non-transferable warrants to Canaccord Genuity Corp. leading to total fee of CAD 21,350 cash and 711,666 non-transferable warrants, and CAD 10,500 and 350,000 non-transferable warrants to St.

Peter Invest Corp. The securities issued under the second tranche are subject to restrictions from resale for a period of four months and a day pursuant to applicable securities laws and the exchange hold period. TSX Venture Exchange has accepted for filing documentation with respect to the transaction.

The transaction included participation from 58 placees. The company will issue securities of CAD 32,453.45155 ($25,622) pursuant to exemption provided under Regulation D. The transaction included participation from 3 investors.