The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on March 13, 2023, and April 4, 2023.

Number of shares:  22,975,000 units (Each unit consists of one common share and one share purchase warrant.)

Purchase price:  two cents per unit

Warrants:  22,975,000 share purchase warrants to purchase 22,975,000 shares

Warrant exercise price:  five cents for a two-year period

Warrant acceleration provision:  If the closing price of the common shares is equal to or exceeds seven cents per common share for greater than 20 consecutive trading days, then the warrant term shall automatically accelerate to a date that is 30 calendar days following the date a news release is issued by the company announcing the reduced warrant terms, without further notification made by the company.

Number of placees:  11 placees

Total existing insider involvement:  13,125,000 (four placees)

The company issued a news release on May 17, 2023, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.