Further to the TSX Venture Exchange bulletin dated Feb. 6, 2023, and June 23, 2023, the exchange has accepted for filing an amendment to the following preferred shares.

Outstanding convertible preferred shares:  $125,100 of Class A Series 1 preferred shares, consisting of 139,000 Series Class A Series 1 preferred shares

Original conversion terms:  Each preferred share until Dec. 31, 2027, is convertible into 2.5 common shares of the company at a price of 40 cents per common share common shares. The 139,000 preferred shares were convertible into up to 347,500 common shares.

Amended conversion terms:  Each preferred share until Dec. 31, 2027, is convertible into five common shares of the company at a price of 20 cents per common share common shares. The 139,000 preferred shares are convertible into up to 695,000 common shares.

Original dividend rate:  Each preferred share is non-voting, carries a cumulative annual dividend of 8 per cent, payable quarterly, along with a top-up dividend of 25 per cent of the company's EBITDA (earnings before interest, taxes, depreciation and amortization) above $2-million per year, divided by the then outstanding preferred shares.

Amended dividend rate:  Each preferred share is non-voting, carries a cumulative annual dividend of 12 per cent, payable quarterly, along with a top-up dividend of 25 per cent of the company's EBITDA above $2-million per year, divided by the then outstanding preferred shares.

Redemption date:  Dec. 31, 2027

All other terms remain unchanged. The preferred shares were issued pursuant to private placements that were originally accepted for filing by the exchange effective Feb. 6, 2023, and June 23, 2023.

For further information, please refer to the company's news release dated July 14, 2023, and the exchange bulletins dated Feb. 6, 2023, and June 23, 2023.