Further to a convertible debenture issued pursuant to a private placement originally accepted by the TSX Venture Exchange effective Feb. 3, 2022, the exchange has consented to a replacement of the original convertible debenture. The company is not receiving any new additional funds.

Original convertible debenture conversion price:  convertible into units consisting of one common share and one-half common share purchase warrant at 40 cents per share of the principal outstanding

Replacement convertible debenture conversion price:   convertible into units consisting of one common shares and one-half common share purchase warrant at 15 cents per share of the principal outstanding

Original convertible debenture forced conversion right:  forced conversion of the debentures should the daily VWAP (volume weighted average price) of the company's shares be greater than $1.20 for any 10 consecutive trading days

Replacement convertible debenture forced conversion right:  forced conversion of the debentures should the daily VWAP of the company's shares be greater than 90 cents for any 10 consecutive trading days

Original convertible debenture maturity date and underlying warrant expiry date:  Oct. 27, 2025

Replacement convertible debenture maturity date and underlying warrant expiry date:  Oct. 27, 2026

Original convertible debenture warrant exercise price:  each whole warrant is exercisable at the price of 60 cents

Replacement convertible debenture warrant exercise price:  each whole warrant is exercisable at the price of 25 cents

The amount of aggregate principal outstanding is $4,334,000, which is the full amount from the original convertible debenture. All other details of the replacement convertible debenture remain unchanged from the original convertible debenture.

For further information, please refer to the company's press release dated Sept. 20, 2023.