Further to the TSX Venture Exchange bulletin dated March 10, 2021, the exchange has accepted for filing a replacement debenture with respect to a non-brokered private placement announced on Jan. 26, 2021, and Feb. 26, 2021.

Convertible debenture:  $5.8-million (U.S.) principal amount

Original conversion price:  convertible into units consisting of one common share and one-half of one common share purchase warrant at $10.25 (U.S.) per share (preconsolidation basis) of principal amount outstanding

Amended conversion price:  convertible into up to 1.16 million common shares at $5 (U.S.) per share for the principal amount outstanding (The debentures are subject to a floor price of $3 (U.S.) per share of principal amount outstanding, whereby it is convertible into a maximum of 1,933,333 common shares.)

Original maturity date:  Feb. 24, 2024

Amended maturity date:  Dec. 29, 2025

Original interest rate:  10 per cent per annum

Amended interest rate:  12.75 per cent per annum

The debenture replaced an outstanding portion from the $5-million (U.S.) convertible debentures, which were issued pursuant to a private placement, which was originally accepted for filing by the exchange effective March 10, 2021.

For further information, please refer to the company's news releases dated Jan. 2, 2024, and March 1, 2024.