diff --git a/CHANGELOG b/CHANGELOG
index 4f9c8bb..503a71e 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,3 +1,8 @@
+Version 0.5.0 (2024-02-02)
+--------------------------
+Update LICENSE to SLULA (#25)
+Bump default version to 0.12.0 (#26)
+
 Version 0.4.4 (2024-01-16)
 --------------------------
 Bump service module to v0.2.1 (#22)
diff --git a/main.tf b/main.tf
index c7d1fc6..8fe15d8 100644
--- a/main.tf
+++ b/main.tf
@@ -1,6 +1,6 @@
 locals {
   module_name    = "iglu-server-ec2"
-  module_version = "0.4.4"
+  module_version = "0.5.0"
 
   app_name    = "iglu-server"
   app_version = var.app_version