The TSX Venture Exchange has consented to the reduction in the exercise price and the extension of the term of the following warrants.

Number of warrants:  3.75 million

Original exercise price of warrants:  1.45 cents

New exercise price of warrants:  10 cents

Original expiry date of warrants:  four years

New expiry date of warrants:  five years

These warrants were issued pursuant to a private placement of 3.75 million special warrants shares with 3.75 million share purchase warrants attached, which was announced by the company on Nov. 9, 2015.