Further to the TSX Venture Exchange bulletin dated Sept. 14, 2023, the exchange has accepted for filing a replacement debenture as announced on Dec. 7, 2023.

Convertible debenture:  $3,546,000 in outstanding principal amount of secured convertible debentures

Conversion price:  convertible into 35.46 million common shares at a conversion price of 10 cents per share

Maturity date:  Sept. 8, 2026

Warrants:  35.46 million common share purchase warrants, with each warrant exercisable to purchase one common share at a price of 15 cents until Sept. 8, 2026, subject to an accelerated expiry provision

Warrant acceleration provision:   The company may accelerate the expiry date of the warrants to a date that is not less than 15 days from delivery of such notice, in the event that the closing price of the common shares listed on the TSX Venture Exchange is greater than 30 cents for 20 consecutive trading days.

Interest rate:  18 per cent per annum

The original convertible debentures were issued pursuant to a private placement which was previously accepted for filing by the exchange effective Sept. 14, 2023. For further information, please refer to the company's press releases dated Dec. 7, 2023, and Dec. 29, 2023.