On October 31, 2023, Sandbox engaged in a significant financial transaction with a company affiliated with Regal. This deal involved Sandbox syndicating 30% of the GPA (General Partnership Agreement) to the Regal-associated entity, at a cost of US$22.5 million. Additionally, Regal invested in Sandbox by subscribing for approximately 34.6 million common shares at a price of C$0.70 per share, resulting in total proceeds of US$17.5 million for Sandbox.

In conjunction with this investment, Sandbox and Regal entered into an investor rights agreement. This agreement bestowed upon Regal several privileges, including the right to participate proportionally in future capital raises and the option to nominate a member or observer to the Sandbox Board of Directors under certain conditions. This agreement underscores a mutual understanding between the two companies to collaborate on prospective ventures.

Following the completion of this transaction, Simon Klimt from Regal has been appointed to the Sandbox Board of Directors, marking a significant integration of the two companies at a governance level. The transaction signifies a strategic partnership, enhancing both companies' potential for growth and collaboration in their respective fields. The financial and strategic implications of this deal underscore its importance in the corporate landscape of both Sandbox and Regal.