Financing type:  non-brokered private placement

Offering:  $2.15-million principal amount of convertible debentures, convertible into 35,833,333 listed shares (if within 12 months)

Conversion price:  six cents per listed share within 12 months, or 12 cents per listed share thereafter, in accordance with the terms of the convertible debentures

Maturity date:  May 12, 2027

Interest rate:  20.0 per cent per annum

Commissions in securities:  1.1 million warrants

Commission terms:   each non-transferable warrant is exercisable at 7.5 cents for a three-year period

Disclosure:  refer to the company's news release(s) dated April 9, 2025, and May 13, 2025