Effective at the opening, Tuesday, Dec. 19, 2023, the 8.0 per cent convertible unsecured debentures of the company will commence trading on TSX Venture Exchange.

Corporate jurisdiction:  British Columbia

Capitalization:  debentures in the aggregate principal amount of $6.54-million

Transfer agent:  Computershare Trust Company of Canada

Trading symbol:  CUB.DB

Cusip No.:   22968PAA6

Details of the debentures

Maturity date:  June 2, 2027

Redemption:  The debentures may not be redeemed prior to June 30, 2025, except if certain conditions are satisfied following a change of control. On or about June 30, 2025, the debentures may be redeemed in whole or in part at the option of the company on not more than 60 days' and not less than 30 days' prior notice at a price equal to their principal amount plus accrued and unpaid interest, provided that the volume weighted average trading price of the common shares on the TSX for the 20 consecutive trading days ending on the fifth trading day preceding the date on which the notice of redemption is given is not less than 150 per cent of the conversion price.

Interest:  The debentures bear interest at 8.00 per cent per annum.

Subordination:  All present and future indebtedness of the company which is (i) secured; (ii) owed to a bank or other financial institution, whether or not secured (as amended, restated, supplemented or otherwise modified from time to time); or (iii) a renewal, extension or refinancing of any of such indebtedness of clause (i), (ii) and (iii) above.

Conversion:  At the option of the holder, at any time prior to the close of business on the earlier of: (i) the business day immediately preceding the maturity date; (ii) if called for redemption, on the business day immediately preceding the date fixed for redemption; or (iii) if called for repurchase pursuant to a change of control on the business day immediately preceding the payment date. The conversion price is 68 cents per share, being a conversion rate of approximately 1,470 shares for each $1,000 principal amount of debentures.

Interest start date:  June 2, 2022

Interest payment dates:  Interest payments are to be made semi-annually in arrears on the last day of June and December in each year, commencing June 30, 2022, per the terms of the indenture agreement.

Clearing and settlement:  The debentures will clear and settle through CDS.

Board lot:  The debentures, which are issuable in the minimum principal amount of $1,000 each, will be quoted based on $1,000 principal amounts with all trades being made in multiples of $1,000. The minimum trading unit of debentures is $1,000 and a board lot of debentures is $1,000. The debentures were previously issued pursuant to a public offering of units, with each unit consisting of one debenture and 400 common share purchase warrants of the company. The warrants are not listed for trading.