On January 25, 2024, X1 Entertainment Group Inc. closed the transaction. The company 7,142,857 units of the company at a price of CAD 0.07 per unit for the gross proceeds of CAD 499,999.99. Each unit comprises one common share in the capital and one share purchase warrant.

Each warrant entitles the holder thereof to acquire one additional share at a price of CAD 0.10 per warrant share for a period of 24 months from the date of closing. All securities issued in connection with the offering are subject to a statutory hold period of four months and one day following the closing date in accordance with applicable Canadian securities laws. The transaction included participation from 2 directors as well as one corporate subscriber wholly owned by a director subscribed for an aggregate of 578,859 units for aggregate gross proceeds of CAD 40,520.13 to the company.