Private placement -- brokered

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced June 15, 2023.

Number of shares:  81.82 million shares

Purchase price:  5.5 cents per share

Warrants:  40.91 million share purchase warrants to purchase 40.91 million shares

Warrant exercise price:  8.5 cents for a two-year period

Number of placees:  30 placees

Total existing insider involvement:  9.08 million (five insiders)

Agents' fees:  Haywood Securities Inc., $216,770.40 cash and 3,980,305 compensation options; Red Cloud Securities Inc., $38,253.60 cash and 655,495 compensation options (Each non-transferable compensation option is exercisable into one common share of the company at a price of 5.5 cents per share for a two-year period.)

The company issued a news release on July 10, 2023, confirming the closing of the private placement. 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.