The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on Feb. 15, 2024.

Number of shares:  16,949,152 common shares

Purchase price:  0.0295 pound sterling (5.02 Canadian cents) per common share

Warrants:  16,949,152 common share purchase warrants to purchase 16,949,152 common shares

Warrant exercise price:  5.58 U.S. cents (7.58 U.S. cents) for a period of two years

Number of placees:  nine placees

Agent's fee:  Turner Pope Investments (TPI) Ltd. will receive a cash commission equal to 6 per cent of the gross proceeds of the offering (30,000 pounds sterling), a cash commission equal to 6 per cent of the gross value received by the company from the exercise of the warrants described above and 1,694,915 agent's warrants. Each agent's warrant entitles the holder to purchase one common share at the price of 0.0295 pound sterling (5.02 Canadian cents) for a period of five years from the date of issuance.

The company issued a news release on Feb. 21, 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.