On May 22, 2024, Healwell AI Inc. closed the transaction. The company has now issued 14,815,000 units at a price of CAD 1.35 per Unit for gross proceeds of CAD 20,000,250. In connection with the Offering, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering and that number of non-transferable broker warrants as is equal to 6% of the aggregate number of Units sold under the Offering.

Each Broker Warrant is exercisable to acquire one Share at a price of CAD 1.35 per Share for a period two years after the closing of the Offering. Each of the Cash Commission paid and Brokers Warrants issued to the Underwriters was reduced to 3% with respect to subscribers identified on the Company?s president?s list, which president?s list was in the amount of CAD 13,600,035. All securities issued pursuant to the Offering are subject to a four-month and one day hold period from the closing date of the Offering in accordance with applicable securities legislation.

The company has paid CAD 1,200,015 as cash commission and issued 888,900 broker warrants.