On June 27, 2025, MiMedia Holdings Inc. closed the transaction. The company issued 3,872 convertible debenture units at an issue price of CAD 1,000 for the proceeds of CAD 3,872,000. Each Debenture Unit will be comprised of: one CAD 1,000 principal amount unsecured convertible debenture, 769 subordinate voting share purchase warrants of the company with an exercise price of CAD 0.65 per share and 500 subordinate voting share purchase warrants of the Company with an exercise price of CAD 1.00 per share. The outstanding principal amount of each Convertible Debenture is convertible, at the option of the holder thereof, at any time on and after June 27, 2026, into subordinate voting shares of the Company at a conversion price of CAD 0.50 per Subordinate Voting Share . Each CAD0.65 Warrant is exercisable to acquire one Subordinate Voting Share at an exercise price of CAD 0.65 any time on or after June 27, 2026 until June 27, 2027. Each CAD1.00 Warrant is exercisable to acquire one Subordinate Voting Share at an exercise price of CAD 1.00 any time on or after June 27, 2026 until June 26, 2027.The Convertible Debentures will mature on June 27, 2027.In connection with the Offering, the Company paid finder's fees of CAD 75,550 in cash to Canaccord
Genuity Corp. and CAD 13,050 in cash to Ventum Financial Corp. The Offering remains subject to the final approval of the Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period expiring October 28, 2025. Subject to the prior approval of the Exchange, the Company may complete additional closings of the
Offering.