The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Nov. 24, 2023, and Feb. 8, 2024.

Number of units:  20 million units

Purchase price:  two cents per unit

Warrants:  20 million share purchase warrants to purchase 20 million shares

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

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

Number of placees:  nine placees

Total existing insider involvement:  5.1 million (four insiders)

The company issued a news release on Feb. 22, 2024, 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.