The TSX Venture Exchange has accepted for filing documentation with respect to a brokered and non-brokered private placement announced on Nov. 21, 2023, Jan. 29, 2024, and Feb. 6, 2024.

Convertible debenture:  $3,635,000 of unsecured non-transferable convertible debenture units (Each unit consists of $5,000 in principal amount.)

Conversion price:  Each unit is convertible at the election of the holder into one common share in the capital of the company at a conversion price of 20 cents per share at any time prior to the maturity date.

Interest rate:  12.5 per cent per annum

Maturity date:  three years from the date of issuance

Forced conversion:  The issuer may, at its option, force the conversion of any outstanding principal amount at the conversion price and any accrued and unpaid interest then outstanding with not more than 60 days of prior notice and with not less than 30 days of notice in the event that the daily volume weighted average trading price of the shares on the exchange is greater than 50 cents per share for 10 consecutive trading days on the exchange from the date of issuance. Any interest conversion is subject to prior exchange approval.

Warrants:  Each unit includes 25,000 detachable share purchase warrants of the company, with each warrant entitling the holder thereof to purchase one additional share at an exercise price of 30 cents per share.

Number of placees:  30 placees

Total existing insider involvement:  216 (four existing insiders)

Total pro group involvement:  five (two pro groups)

Finders' fees -- brokered commissions:  Canaccord Genuity Corp., $600 cash and 3,000 warrants; Independent Trading Group (ITG) Inc., $20,700 cash and 103,500 warrants; Magellan Asset Management Ltd., $27,000 cash and 135,000 warrants; National Bank Financial Inc., $11,200 cash and 56,000 warrants

Finders' fees -- non-brokered commissions:  five total finders, $50,750 cash and 253,750 warrants

The finders' warrants are exercisable into shares at 30 cents per share for a period of 36 months from the date of issuance.

The company issued news releases on Dec. 21, 2023, and Feb. 16, 2024, confirming the closings of the private placement tranches.