Further to a convertible debenture issued pursuant to a private placement originally accepted by the TSX Venture Exchange on Feb. 4, 2022, and amendments accepted by the exchange on Oct. 19, 2022, and Feb. 13, 2024, the exchange has consented to a replacement of the previously amended convertible debentures. The company is not receiving any new additional funds.

Previously amended convertible debentures conversion price:   convertible into shares at 55 cents per listed share of the principal outstanding

Replacement convertible debentures conversion price:  convertible into shares at 12 cents per listed share of the principal outstanding

Previously amended convertible debentures maturity date and conversion price expiry:  Dec. 31, 2024

Replacement convertible debentures maturity date and conversion price expiry:  Dec. 31, 2025

Amount of new detachable warrants:  eight million detachable warrants with each full warrant entitling to acquire one listed share

New detachable warrants exercise terms:  12 cents per listed share until Dec. 31, 2025

The amount of aggregate principal outstanding is $1.5-million. All other details of the replacement convertible debentures remain unchanged from the original convertible debenture.

For further information, please refer to the company's press release dated Jan. 13, 2025, Feb. 4, 2025, and Feb. 14, 2025.