The proceeds are "deferred". The jackasses did not disclose that in the March 24 NR.     

On March 29, 2022, and as part of a $2,400,000 net equity investment by Sorbie Bornholm LP comprising of deferred proceeds with a fair value on the date of acquisition of $2,400,000, the Company entered into agreements for the acquisition of 24 equity swaps for total consideration receivable of $2,400,000 ($200,000 for the first two swaps and $90,909 per equity swap for the remaining).
 
The equity swaps settle on a monthly basis over 24 months, and commenced on May 6, 2022, with one swap settling each month. The monthly settlement amount payable to the Company by the counter-party is determined by an independent settlement agent with the amount due calculated via reference to the average of the volume weighted average price of the Company’s shares as traded on the Canadian Securities Exchange for the twenty days preceding the settlement date (“VWAP”), compared to the benchmark price of $0.16. Each one cent difference between the VWAP and the benchmark price results in a $28,409 per month premium or discount to the amount to be received by the Company for the swap at settlement.



lscfa wrote:

See image. WTF is there no record of $2.5 million raise recorded?

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lscfa wrote: working capital at May 31 =   -$1,205,894.   Where the hell did the $2.5 million raise in March go?   Bozo mgmt.