Further to a convertible debenture issued pursuant to a private placement originally accepted by the TSX Venture Exchange effective June 7, 2016, and various amendments accepted by the TSX-V between 2018 and 2025, the exchange has consented to a new replacement of the original convertible debenture. The company is not receiving any new additional funds.

Convertible debenture:  $5-million (U.S.) principal amount of unsecured convertible debenture (unchanged)

Conversion price:  The principal amount is convertible into 45,486,000 common shares at a conversion price of 15 Canadian cents per share (unchanged).

Original maturity date:  Feb. 28, 2026

Replacement maturity date:  Feb. 28, 2027 (new)

Interest rate:  20 per cent for the period from and including April 30, 2018, to and excluding March 31, 2019, and 7 per cent for the period from and including March 31, 2019, to and excluding Feb. 28, 2027 (unchanged) (Any accrued interest and fees payable in securities are subject to prior exchange acceptance at the time it becomes payable.)

Number of placees:  one placee (unchanged)

For further information, please refer to the company's news releases dated Feb. 19, 2026, and Feb. 27, 2026.