On June 9, 2022, Venzee Technologies Inc. closed the transaction. The company issued 3,420,000 at an issue price of CAD 0.05 per unit for gross proceeds of CAD 171,000 in its second tranche. The company has received aggregate proceeds of CAD 576,200 in the transaction.

The transaction included participation from 5 placees. The securities issued under this tranche of financing are subject to a statutory hold period expiring four months and one day from the date of issuance. In connection with this tranche, the company has paid finders' fees to PI Financial Corp, comprising of payment of CAD 13,600 and the issuance of 272,000 finders' warrants upon the same terms and conditions as the units.

Each finder's warrant entitles the holder to receive one common share at 10 cents for a period of three years. The company has received acceptance of TSX Venture Exchange for filing documentation with respect to the transaction.