The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on March 6, 2024.

Number of shares:  11,111,110 units

Purchase price:  45 cents per unit

Warrants:  5,555,555 share purchase warrants to purchase 5,555,555 shares

Warrant exercise price:  65 cents for a two-year period

Warrant acceleration provision:  If the volume-weighted average price (VWAP) of the common shares on the exchange is equal or greater than $1.20 per common share for 10 consecutive trading days, the expiry date of the warrants may be accelerated by the company to a date that is not less than 30 days after the later of: (i) the date that notice is provided to the holders; and (ii) the date of issuance of a news release disclosing the triggering event.

Number of placees:  63 placees

Total existing insider involvement:  80,000 (two insiders)

Total pro group involvement:  832,640 (five pro groups)

Finder's fee:  $335,541.47 cash and 852,169 warrants

Finder's warrant terms:  Each finder's warrant entitles the holder to purchase one common share at the price of 65 cents for a period of two years from the date of issuance.

The company issued a news release on March 20, 2024, 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.