Further to the TSX Venture Exchange bulletins dated July 13, 2022, and Dec. 20, 2022, the exchange has accepted for filing the company's proposal to issue 7.5 million non-transferable common share purchase warrants to an arm's-length lender in consideration of extending the maturity date of the loan and credit facility agreement dated July 11, 2022. The maturity date of the agreement will be extended from July 11, 2024, to July 11, 2025. Each bonus warrant entitles the lender to purchase one common share of the company at a price of 35 cents per share until July 11, 2025, subject to certain warrant expiry acceleration terms. The original outstanding 3,333,333 warrants, with an exercise price of 60 cents per share, and 769,231 warrants, with an exercise price of 65 cents per share, will be cancelled concurrently.

For further information, please refer to the company's news releases dated June 23, 2022, July 11, 2022, Dec. 13, 2022, and Dec. 5, 2023.