The TSX Venture Exchange has accepted for filing the company's proposal to issue 450,000 common shares of the company as bonus shares to a non-arm's-length lender in consideration of a series of cash advances totalling $540,000 to the company by the lender pursuant to the terms of a promissory note dated Sept. 22, 2023, as amended on Feb. 15, 2024. The note bears an interest rate of 12 per cent per annum, is unsecured, allows a borrowing limit of up to $1-million and is repayable on demand by the lender at any time following the one-year anniversary of the respective cash advance date.

For further information, please refer to the company's news releases dated Jan. 29, 2024, and Feb. 15, 2024.