On October 30, 2023, California Nanotechnologies Corp. closed the transaction. The company sold 10,000,000 Units which included full exercise of the over-allotment option, at a price of CAD 0.15 per Unit for the gross proceeds of CAD 1,500,000. Each Unit consists of one common share and one half of one Common Share purchase warrant. Each Warrant shall entitle the holder to acquire one additional Common Share at an exercise price of CAD 0.25 at any time on or before October 30, 2025. The Offering is subject to the receipt of all necessary regulatory and other approvals,including the receipt of final approval from the TSX Venture Exchange (the ?TSXV?). Finder?s fees in the aggregate cash amount of CAD 22,673.50, equivalent to 5.5% of the gross proceeds of certain subscriptions under the Offering, were paid to eligible finders. No finder?s warrants or similar securities were issued in connection with the Offering. Eric Eyerman, Roger Dent, and Sebastien Goulet purchased an aggregate of 3,586,666 Units under the Offering, representing approximately 35.9% of the Offering.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 56 placees including existing insider involvement of 3 insiders for 3,586,666 shares.