On March 22, 2021, Bhang Inc. (CNSX:BHNG) closed the transaction. The company issued 27,240,192 subordinate voting shares for gross proceeds of CAD 1,770,612 in the transaction. The company issued 16,853,615 subordinate voting shares for gross proceeds of CAD 1,095,485 in its second and final tranche.

In connection with this tranche, the company paid, to certain eligible finders, a cash commission of approximately CAD 16,587 in relation to the gross proceeds raised from subscribers introduced to the company by such finders. The subordinate voting shares issued in connection with the second tranche are subject to a statutory four month and one day hold period expiring on July 23, 2021, and such further restrictions as may apply under foreign securities laws.