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

Convertible debentures:  $2,646,000 principal amount

Conversion price:  convertible into 5,292,000 common shares at a price of 50 cents per share

Maturity date:  24 months from the issuance, subject to an acceleration of maturity date in certain circumstances

Warrants:  2,646,000 share purchase warrants to purchase 2,646,000 shares

Warrant exercise price:  50 cents per share for a period of 24 months, subject to accelerated expiry in certain circumstances

Interest rate:  12 per cent per annum, payable semi-annually

Number of placees:  53 placees

Finder's fee:  $210,930 and 421,860 finder warrants

Finder's warrant terms:  Each finder's warrant is exercisable to acquire one common share at an exercise price of 50 cents for a period of 24 months from the issuance.

The company issued a news release on May 11, 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.