The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Aug. 1, 2023.

Convertible debenture:   a total of $3.3-million (of which $1.75-million came from an existing loan)

Conversion price:   convertible into shares consisting of up to 13.2 million common shares at 25 cents per share of principal outstanding at any time prior to maturity

Maturity date:  Sept. 8, 2028

Interest rate:  7.0 per cent per annum; accrued interest is convertible into shares of the company, subject to TSX-V approval, at the greater of: a) 25 cents and b) market price at the time of conversion

Number of placees:  one placee

Aggregate existing insider involvement:   one insider, up to 13.2 million

The company issued a news release on Sept. 11, 2023, confirming closing of the private placement.