On March 9, 2022, CLS Holdings USA, Inc. closed the transaction. The company has received $2,500,000 in the transaction. The company has issued debentures and 3,030,304 warrants to purchase common shares at a price of $0.4125 per share in an aggregate amount equal to one-half of the aggregate purchase price.

The debentures will bear interest rate of 15% per annum and mature on July 10, 2024. The warrants have a term of three years and are exercisable, in whole or in part, at any time, or from time to time, after the date of issuance.