The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 10, 2023.

Convertible debenture:  $5-million in outstanding principal amount of unsecured convertible debentures

Conversion price:  convertible into 10,416,667 common shares of the company at 48 cents per share of principal outstanding

Maturity date:  Dec. 31, 2025

Forced conversion:  The company may, at its option, convert the outstanding debentures, at any time prior to the maturity date, if the 20-day volume-weighted average share price of the common shares on the TSX-V equals or exceeds 65 cents per common share.

Interest rate:  9.6 per cent per annum, payable semi-annually in arrears

Number of placees:  17 placees

Total existing insider involvement:  $497,000 (five insiders)

Total pro group involvement:  $150,000 (one pro group)

Finder's fee:  $6,400

The company issued a news release on Dec. 4, 2023, confirming the closing of the private placement.