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      What are the steps involved in closing a Issuance on addy?

      When a Issuer initiates a closing on the addy platform, the below process takes places.

      Here is a high-level overview of the key steps that are taken:

      1. Members wallet funds are always held at TD Bank in a dedicated Trust Account (Mixed-use without arrangement is its technical designation).
      2. Transactions for a close are approved by the Exempt Market Dealer (EMD) ((i) Dealing Representative and (ii) Ultimate Designated Person/Chief Compliance Officer) and a (iii) Director of the Issuer.
      3. addy pulls title again on the property and ensures there are no changes to ownership or new registrations since initial title pull. (Anecdotally, addy does an annual title audit every year thereafter and reports the findings as a property update).
      4. Issuer signs a Directors Consent Resolution for their entity to raise the funds and issue the securities to the purchasers. This gets filed in their entity minute book. 
      5. A Flow of Funds Agreement is automatically generated for signature by EMD, the Issuer, a signatory of addy Portal Corp and a signatory addy technology Company. This is a extensive agreement that states the amount of funds being transferred, to which specific bank accounts and includes a schedule of every purchase:
        1. Signatories audit the (i) title,  (ii) proof of Signatory Powers of the Issuer, (iii) destination bank account of EMD is their trust account, (iv) destination bank account of Issuer is the same entity that ((a) securities are being sold from, (b) is the registered owner on the property), (v) signatories have verified Government ID on file with Veriff.
      6. A summary of the transaction then gets sent to an independent director (non-employee) of addy Portal Corp for review and if approved they sign a Directors Consent Resolution to transfer the funds to the EMD.
      7. EMD receives the funds via EFT to their trust account (this trust account has been confirmed via a penny test), then holds the funds in their registered trust account for the mandatory rescission period they are required to.
      8. Funds then are transferred from the EMD to the Issuer.