On September 18, 2023, Core One Labs Inc. closed the transaction. The company issued 625,000 units at a price of CAD 0.32 per unit for gross proceeds of CAD 200,000. Each unit consists of one share and one transferable share purchase warrant.

Each warrant entitles the holder thereof to purchase one additional share of the company for a period of five years at a price of CAD 0.43 per share. In connection with closing, the Company issued 12,500 Shares ("Administrative Shares") to Amalfi Corporate Services Ltd., in consideration for administrative services rendered in connection with the Private Placement. Pursuant to applicable securities laws, all securities issued under the Private Placement are subject to a statutory hold period of four months and a day expiring on January 19, 2024.