The TSX Venture Exchange has accepted the company's warrant incentive program designed to encourage the exercise of eight million existing warrants of the company. Each warrant entitled the holder to acquire one common share at a price of 75 cents per share for a two-year period.

Pursuant to the warrant incentive program, each of the holders of warrants who exercised warrants during the early exercise period received, for every three warrants exercised, one additional common share purchase warrant entitling such holder to acquire one common share of the company at a price of $1 per share for a one-year period.

The early exercise period commenced on Jan. 20, 2026, and expired on Feb. 19, 2026.

In connection with the warrant incentive program, a total of 7.76 million warrants were exercised, providing gross proceeds of $5.82-million to the company and resulting in the company issuing 7.76 million common shares and 2,586,653 incentive warrants as follows.

Number of shares issued upon exercise of existing warrants:  7.76 million common shares

Purchase price (exercise price of the existing warrants):  75 cents per common share

Incentive warrants:  2,586,653 share purchase warrants to purchase 2,586,653 shares

Incentive warrant exercise price:  at a price of $1 per share for a one-year period from the date of issuance

All warrants that were not exercised under the warrant incentive program continued to entitle the holder to acquire one common share at the exercise price of 75 cents per common share until March 10, 2027.

For further details, please refer to the company's news releases dated Jan. 2, 2026, Jan. 19, 2026, Feb. 20, 2026, and April 16, 2026.