The company's prospectus supplement dated July 27, 2023, to the short form base shelf prospectus dated July 20, 2023, was filed with and accepted by the TSX Venture Exchange. The base shelf prospectus was filed with and receipted by the Alberta and Ontario securities commissions on July 20, 2023. The base shelf prospectus has been filed under Multilateral Instrument 11-102, Passport System, in British Columbia, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador.

The exchange has been advised that closing of the offering pursuant to the prospectus supplement occurred on Aug. 4, 2023, for aggregate gross proceeds of $5,993,450.

Offering:  14,956,590 non-flow-through units (hard-dollar (HD) units) (Each HD unit consists of one non-flow-through common share of the company and one-half non-flow-through common share purchase warrant.); 11,262,500 flow-through (FT) units (Each FT unit consists of one flow-through common share of the company and one-half flow-through common share purchase warrant.)

Offering price:  22 cents per HD unit; 24 cents per FT unit

Warrant exercise term:  Each HD warrant is exercisable at an exercise price of 33 cents for a period of two years from the date of issuance. Each FT warrant is exercisable at an exercise price of 33 cents for a period of two years from the date of issuance.

Agents:  Canaccord Genuity Corp. and Paradigm Capital Inc.

Agents' fees:  aggregate cash commissions of $323,227.65 and 1,409,308 warrants, with each warrant entitling the agents to acquire an additional HD unit at an exercise price of 22 cents until Aug. 4, 2025

Overallotment option:  The agents may overallot the HD units in connection with the offering and the company has granted to the agents an option to purchase an additional 4,090,909 HD units at 22 cents per HD unit for gross proceeds of $900,000 until Sept. 3, 2023.

The underlying warrants are governed by the terms and conditions of the warrant indenture dated Aug. 4, 2023, and were issued pursuant to the company's prospectus supplement dated July 27, 2023.

For further details, please refer to the company's prospectus supplement filed on SEDAR on July 27, 2023, and the company's news releases dated July 25, 2023, July 28, 2023, and Aug. 4, 2022.