The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on June 22, 2023.

Convertible debenture:  $1-million

Conversion price:  convertible into a maximum of 800,000 common shares at $1.25 of principal outstanding

Maturity date:  three years from issuance

Warrants:  460,000 detachable common share purchase warrants (Each warrant will have a term of three years from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at the price of $1.30.)

Interest rate:  12 per cent per annum

Number of placees:  one placee

The company issued a news release on July 6, 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.