The TSX Venture Exchange has accepted for filing documentation with respect to the issuance of convertible debentures in exchange of the conversion of existing promissory notes amounting a total of $225,000, as announced by the company on Aug. 20, 2014, Sept. 16, 2014, Sept. 18, 2014, and Sept. 23, 2014.

Convertible debt:  $225,000

Conversion price:  The principal is convertible into units of the company at a price of 20 cents per unit. Each unit is composed of one common share and one-half of a common share warrant.

Warrants:  Each warrant entitles the holder thereof to acquire one common share of the company at a price of 25 cents per share until Aug. 1, 2017.

Maturity date:  Aug. 1, 2017

Interest rate:  8 per cent per year

In the event where the common shares of the company trade at an average closing price of 25 cents or greater over a 20-day trading period, the debentureholder shall be obliged, upon notification of the company, to convert all of the principal amount of the convertible debentures into Units.

Number of placees:  Two placees

The company has confirmed the closing of the transaction.