The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Oct. 16, 2023. The private placement raised gross proceeds of $1,066,025.25 through the issuance of 1,421,367 subscription receipts at a price of 75 cents per subscription receipt. The subscription receipts automatically converted in connection with the closing of the qualifying transaction, with each subscription receipt holder ultimately receiving one postconsolidation common share and one-half of one postconsolidation share purchase warrant for each subscription receipt held.

Number of shares:   1,421,367 postconsolidation shares

Purchase price:  75 cents per share

Warrants:  710,683 share purchase warrants to purchase 710,683 postconsolidation shares

Warrant exercise price:  $1.00 for a one-year period, subject to an acceleration right

Number of placees:   10 placees

Finder's fee:  $60,960.02, 81,280 warrants

Finder's warrants terms:   Each finder warrant entitles the holder to purchase one postconsolidation common share at the price of $1.00 for a period of one year from the date of issuance, subject to an acceleration right.

The company issued a news release on Jan. 18, 2024, confirming the closing of the private placement.