The TSX Venture Exchange has accepted for filing a secured new term loan with an aggregate principal amount of $27,795,066.24 (U.S.) issued in exchange for 40 per cent of the aggregate principal amount and the aggregate amount of accrued and unpaid interest on the existing convertible debentures of the company pursuant to a credit agreement dated Oct. 22, 2025. The agreement was executed in connection with the restructuring transaction between the company and arm's-length creditors, pursuant to a transaction support agreement dated Aug. 21, 2025, which was amended on Sept. 17, 2025, and Oct. 21, 2025.

The new term loan bears interest at a rate per annum of 8.99 per cent if paid in cash or 11.125 per cent if paid in kind, and matures on Oct. 22, 2028. In connection with the new term loan, the company issued 3,822,341 bonus shares to the creditors.

Refer to the company's news releases dated Aug. 21, 2025, Sept. 12, 2025, Sept. 16, 2025, Sept. 26, 2025, Oct. 15, 2025, and Oct. 22, 2025.