The TSX Venture Exchange has accepted for filing documentation the debt amendment agreement dated April 3, 2024, and conversion election notice dated April 3, 2024, between the company and a non-arm's-length creditor. The company and the creditor have agreed to amend the existing deferred consideration obligation owed by the company to the creditor in the amount of $2,901,631 (U.S.), related to the acquisition of Pure Gold Mining Inc., originally announced on April 17, 2023. Pursuant to the amending agreement, the company has issued to the creditor an aggregate of 2,901 units of the company consisting of unsecured gold-linked notes of $1,000 principal amount and 710 common share purchase warrants of the company. Each note bears a coupon rate of 12 per cent per annum, calculated and payable quarterly in arrears, and will mature on Dec. 31, 2029. Each warrant will entitle the holder thereof to purchase one common share in the capital of the company at an exercise price of 95 cents per share, for a period of 60 months following their issuance. Upon issuance of the debt conversion units, the deferred consideration has been extinguished.

In connection with the amending agreement and the issuance of the debt conversion notes, the company has paid a cash commission of $29,016 (U.S.) to a syndicate of agents led by Raymond James Ltd.

For further information, please refer to the company's news release dated April 4, 2024.