The TSX Venture Exchange has accepted for filing the company's proposal to issue 1.2 million bonus warrants to a non-arm's-length creditor, in consideration of an amendment to a $2,725,000 (U.S.) secured term loan agreement dated Dec. 22, 2023, as third amended on Dec. 18, 2022, second amended on Nov. 29, 2021, first amended on Nov. 22, 2019, and originally dated March 30, 2019. The amendment to the amended agreement provides for the extension of the maturity date to Jan. 31, 2027. The interest rate remains at 9 per cent. The warrants have an exercise price of 89 cents per share with an expiry date of Jan. 31, 2027.

For additional details, please refer to the company's news releases dated Dec. 19, 2022, and Dec. 22, 2023.