Aspect Fund Report Q2 2023

The Fund started its activities on the 14th of October, 2022. The total subscribed amount for the first subscription was €5.860.000,00. The amount raised will be used to purchase and support early development costs for PROJECT CANIDELO(CAN) and PROJECT MADALENA(MAD).

We've finalized the due diligence and transaction for PROJECT CAN and the project is currently in licensing stage developed by the design and engineering teams.

Heed Capital has rejected the equity investment in Project Madalena based on the tax concerns of acquiring shares of an existing company. We are since working on a plan to borrow debt financing from Aspect Fund I. The terms are being negotiated.

On the first shareholder's meeting (on the 31st of January, 2023), a capital increase is suggested and approved by shareholders to access other opportunities, and further diversify fund’s portfolio. Since the Capital Increase, we have confirmed fundraising of 600.000€ to add to the fund.