Further to the TSX Venture Exchange bulletin dated Nov. 23, 2023, and the expiry of the company's rights offering on Dec. 22, 2023, at 5 p.m. Toronto time, the exchange has accepted for filing the rights offering pursuant to which the company issued 33 million common shares at a subscription price of 12 cents per share for aggregate gross proceeds of $3.96-million.

In connection with the rights offering, the company issued 18,096,739 shares to two non-arm's-length standby purchasers, with each standby purchaser acquiring 50 per cent of such shares, pursuant to the company's standby commitment agreements with each standby purchaser dated Nov. 21, 2023.

For further information, please refer to the company's news releases dated Nov. 21, 2023, and Jan. 2, 2024.