On May 11, 2023, VIP Entertainment Technologies Inc. closed the transaction. The company has issued 2,550,800 units at a price of CAD 0.25 per unit for the gross proceeds of CAD 637,700 in the transaction. The transaction included from participation from 30 placees including six existing insiders for 378,000 units and Randy Jennings and Theresa Jennings, insiders of the company, acquired 120,000 units each for CAD 60,000 in connection with the offering.

Certain management and directors in the transaction for 638,000 units for the proceeds of CAD 159,500. An aggregate of CAD 5,400 and 21,600 units were issued as compensation to certain finders. All securities issued pursuant to the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.