On September 9, 2021, ICEsoft Technologies Canada Corp. closed the transaction. The company has amended the terms of the transaction.

The company has issued 32,000,000 units at CAD 0.05 per unit for gross proceeds of CAD 1,600,000. The transaction was led by I Shen Capital Fund I L.P.,a fund managed by Shen Capital Partners which subscribed for CAD 1,300,000 of units. Each unit consists of one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the holder to subscribe for one additional common share at an exercise price of CAD 0.08 per share at any time prior to the day that is 36 months from the grant of the warrant.

No finder's fees were paid by the company. The securities issued will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of the applicable closing. The closing is subject to receipt of all necessary corporate and regulatory approvals, including approval of the Canadian Securities Exchange.