The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on April 19, 2016.

Number of shares:  6.9 million shares

Purchase price:  five cents per share

Warrants:  6.9 million share purchase warrants to purchase 6.9 million shares

Warrant exercise price:  8.5 cents for a one-year period, 12 cents in the second year

Number of placees:  31 placees

Insider:  Panopus PLC (Phillip Thomas), 500,000 shares

Aggregate pro group involvement:  600,000 shares (two placees)

Finder's fee:  Haywood Securities will receive a finder's fee of $6,400.

Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the exchange may later extend the expiry date of the warrants if they are less than the maximum permitted term.