The TSX Venture Exchange has accepted for filing the company's proposal to issue 2.9 million non-transferable bonus warrants to a non-arm's-length creditor, in consideration of amendments to a $1-million (U.S.) secured credit facility agreement dated Dec. 22, 2023, originally dated May 9, 2023 (fully drawn). The amendments to the amended agreement provide for the increase of the principal to $2.2-million (U.S.) and the extension of the maturity date to Jan. 31, 2026. The interest rate remains at 10 per cent. An administrative loan origination fee equal to 1.5 per cent of the available credit facility will be paid at maturity. The warrants have an exercise price of 89 cents per share with an expiry date of Jan. 31, 2026.

For additional details, please refer to the company's news releases dated May 10, 2023, and Dec. 22, 2023.