On December 29, 2023, Playgon Games Inc. closed the transaction. The company now issued 4,971 unsecured convertible debentures at a price of CAD 1,000 for gross proceeds of CAD 4,971,000. The Debentures will mature on December 29, 2024 and each CAD 1,000 principal amount of Debenture will bear simple interest at 10% per annum. Holders of Debentures will also be entitled to convert the principal amount of the Debentures at any time on or prior to the maturity date into 99,420,000 Common Shares at a price of CAD 0.05 per Common Share, subject to standard adjustments. The Debentures will be subject to a statutory hold period of four months plus one day following closing of the Non-Brokered Offering and the Non-Brokered Offering remains subject to the final approval of the TSXV. A portion of the Non-Brokered Offering representing CAD 4,746,000 or 95.5% of the total offering pursuant to the closing constitutes a related party transaction by an additional investment by a significant shareholder and control person of the Company, Kathleen Crook, as well as by certain directors of the Company.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from six placees and 3 existing insiders for CAD 4,746,000.