diff --git a/CHANGELOG b/CHANGELOG
index 75560c3..7fb6b08 100644
--- a/CHANGELOG
+++ b/CHANGELOG
@@ -1,3 +1,8 @@
+Version 0.5.0 (2024-01-25)
+--------------------------
+Update LICENSE to SLULA (#27)
+Update Collector to v3.0.1 (#28)
+
 Version 0.4.0 (2023-07-26)
 --------------------------
 Leverage common service module (#24)
diff --git a/main.tf b/main.tf
index cb16bdf..a1d67a4 100644
--- a/main.tf
+++ b/main.tf
@@ -1,6 +1,6 @@
 locals {
   module_name    = "collector-pubsub-ce"
-  module_version = "0.4.0"
+  module_version = "0.5.0"
 
   app_name    = "stream-collector"
   app_version = var.app_version