Further to the TSX Venture Exchange bulletin dated Sept. 26, 2023, the exchange has been notified that Canaccord Genuity Corp. and Paradigm Capital Inc. have exercised 411,136 hard-dollar (HD) units from the overallotment option for a gross proceed of $90,449.92.

With the overallotment exercise, gross proceeds from the short form base shelf prospectus dated June 20, 2023, were $6,083,899.72.

Please see below for the summary of the prospectus.

Prospectus -- unit brokered offering

Offering:  14,956,590 non-flow-through units (the 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 price/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 acquisition of an additional HD unit at an exercise price of 22 cents until Aug. 4, 2025

Overallotment option:  The agents exercised a total of 411,136 HD units from the overallotment, which expired on 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.