On October 13, 2021, InnoCan Pharma Corporation closed the transaction. The company issued 9,679,000 common shares and 9,679,000 common warrants to purchase 9,679,000 common shares at a combined purchase price of CAD 0.85 per share and associated common warrant for gross proceeds of CAD 8,227,150. The company received funding from 8 investors pursuant to exemption provided under Regulation D.