The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on April 27, 2023.

Number of shares:  12,222,400 non-flow-through (NFT) common shares; 7,143,000 flow-through (FT) common shares

Purchase price:  45 cents per non-flow-through common share; 63 cents per flow-through common share

Warrants:  9,682,699 common share purchase warrants to purchase 9,682,699 common shares

Warrant exercise price:  63 cents for a period of two years from the date of issuance

Number of placees:  22 placees

Total existing insider involvement:  635,555 (four insiders)

Total pro group involvement:  1,053,883 (four pro groups)

Underwriters' fees:  Cormark Securities Inc., Desjardins Securities Inc. and Haywood Securities Inc. received cash commissions of $570,010.20 and 1,095,256 compensation warrants, with each compensation warrant entitling the holder to purchase one common share in the capital of the company at an exercise price of 45 cents per common share for a period of two years following the closing of the offering.

The company issued a news release on May 17, 2023, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.