The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement.

Convertible debentures:  aggregate principal amount of $250,000

Conversion price:  The principal is convertible into common shares at a conversion price of 22 cents per common share.

Maturity date:  36 months from the closing of the private placement

Interest rate:  10 per cent per annum

Warrants:  250,000 common share purchase warrants to purchase 250,000 common shares

Warrant exercise price:  26 cents per common share for 18 months following the closing of the private placement

Number of placees:  one placee

Finder's fee:  $12,500

The company has confirmed the closing of the private placement in a news release dated Jan. 13, 2023.

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.