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

Number of warrants:  2,881,450

Expiry date of warrants:  Jan. 27, 2024

Original exercise price of warrants:  50 cents

New exercise price of warrants:  19 cents

Forced exercise provision:  If the closing price for the company's shares is 24 cents or greater for a period of 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants following delivery by the company of an acceleration notice; otherwise the warrants will expire on the 31st day.

These warrants were issued pursuant to three private placements that consist a total of 2,015 unsecured convertible debenture units. Each convertible debenture unit consists of a $1,000 principal amount unsecured convertible debenture and 1,430 common share purchase warrants of the company, which was accepted for filing by the exchange effective Feb. 8, 2022, March 21, 2022, and April 22, 2022.