On April 25, 2024, Perk Labs Inc. closed the transaction. The company announced that it has issued 78,900,000 units at a price of CAD 0.01 per unit for the gross proceeds of CAD 789,000 and 15% convertible debentures for the gross proceeds of CAD 25,000; aggregate gross proceeds of CAD 814,000 in third and final tranche. Each Unit consists of one common share and one Common Share purchase warrant.

Each Warrant will entitle the holder to purchase one additional Common Share at a price of CAD 0.05 per Common Share for a period of 24 months from the closing. The Debentures mature two years from the date of issuance and bear interest at a rate of 15% per annum. The Debentures are convertible into Common Shares at a conversion price of CAD 0.05 per Common Share, subject to the terms and conditions set forth in the specific Debenture agreement.

All securities issued pursuant to the private placements are subject to a statutory hold period of four months and one day following the closing. In connection with private placements, B. Rogic acquired CAD 73,000 of Units