The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Sept. 28, 2023.

Number of shares:  15 million shares

Purchase price:  40 cents per share

Warrants:  15 million share purchase warrants to purchase 15 million shares

Warrant exercise price:  52 cents for a 30-month period

Number of placees:  54 placees

Total existing insider involvement:  250,000 (one insider)

Agent's fee:  PI Financial Corp., $480,000 cash and 1.2 million compensation options

Compensation option terms:  Each compensation option will entitle the holder to subscribe for and purchase one unit at a price of 52 cents per unit for 30 months from the closing date of the private placement. Each unit, upon exercise, will consist of one common share and one warrant. Each warrant entitles the holder to purchase one common share at the price of 52 cents for a period of 30 months from the closing date of the private placement.

The company issued a news release on Oct. 5, 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.