Further to the TSX Venture Exchange bulletin dated June 22, 2018, and the expiry of the company's rights offering on July 25, 2018, the exchange has accepted for filing the rights offering pursuant to which 1,122,736 units will be issued. Each unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase an additional common share for a two-year period at an exercise price of 25 cents per common share. The common share purchase warrants will not be listed for trading.

For further information, please refer to the company's news release dated July 27, 2018.