The TSX Venture Exchange has consented to the reduction in the exercise price and the extension in the expiry date of the following warrants.

Private placement

Number of warrants:  3,956,521

Forced exercise provision:  If the closing price for the company's shares is 6.25 cents or greater for a period of 10 consecutive trading days, then the warrantholders will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 30th day.

Original exercise price of warrants:  28 cents

New exercise price of warrants:  five cents (The new exercise price will be effective for the 3,043,478 warrants as of Aug. 27, 2023, and the 913,043 warrants as of Sept. 4, 2023.)

Original expiry date of warrants:  Aug. 27, 2023 (3,043,478 warrants); Sept. 4, 2023 (913,043 warrants)

New expiry date of warrants:  Aug. 27, 2025; Sept. 4, 2025 (The new expiry date of warrants will be effective for the 3,043,478 warrants as of Aug. 27, 2023, and 913,043 warrants as of Sept. 4, 2023.)

These warrants were issued pursuant to a private placement of 3,956,521 shares with 3,956,521 share purchase warrants attached, which was accepted for filing by the exchange effective Sept. 15, 2020.