The TSX Venture Exchange has consented to the reduction in the exercise price of warrants.

Private placement

Number of warrants:   20 million

Expiry date of warrants:  Aug. 18, 2023 (as to 16.4 million warrants); Sept. 20, 2023 (as to 3.6 million warrants)

Forced exercise provision:   If the closing price for the company's shares is 45 cents or greater for a period of 10 consecutive trading days, then the warrant holders will have 30 calendar days to exercise their warrants from the date of the company's press release announcing the accelerated expiry; otherwise the warrants will expire on the 31st calendar day.

Original exercise price of warrants:  30 cents

New exercise price of warrants:  10 cents

These warrants were issued pursuant to a private placement of 20 million shares with 20 million share purchase warrants attached, which was accepted for filing by the exchange effective June 25, 2021.