Private placement -- brokered

The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on June 27, 2022, and Aug. 16, 2022. The private placement raised $10,353,030.55 through the issuance of common shares and subscription receipts convertible into common shares, each at a price of 65 cents per common share. The following common shares have been issued (or will be issued upon conversion of the subscription receipts).

Number of shares:  15,927,739 shares

Purchase price:  65 cents per share

Number of placees:  42 placees

Total existing insider involvement:  3,470,200 (six insiders)

Total pro group involvement:  900,000 (two pro groups)

Agents' fees:  Beacon Securities Ltd., $141,249.51 cash and 211,351 compensation options; Canaccord Genuity Corp., $141,249.51 cash and 211,351 compensation options; Haywood Securities Inc., $14,868.37 cash and 22,247 compensation options (The compensation options are non-transferable and each compensation option is exercisable into one common share of the company at a price of 65 cents per share for two years from the date of issuance.)

The company issued news releases on Sept. 8, 2022, and May 31, 2023, confirming the closing the private placement.