The TSX Venture Exchange has accepted the company's warrant incentive program, designed to encourage the exercise of up to 5,642,864 existing warrants of the company. This total comprises 2,428,556 warrants, exercisable at 45 cents until Feb. 21, 2028, and a combination of 2,751,808 warrants and 462,500 warrants, both exercisable at 50 cents, expiring on May 1, 2026, and July 14, 2026, respectively.

Pursuant to the warrant incentive program, each of the holders of warrants that exercised warrants during an early exercise period received an additional one common share purchase warrant entitling such holder to acquire one common share of the company at a price of 75 cents per share for a two-year period.

The early exercise period commenced on Oct. 27, 2025, and expired on Nov. 26, 2025.

In connection with the warrant incentive program, a total of 4,359,687 warrants were exercised, providing gross proceeds of $2,090,802.65 to the company, and resulting in the company issuing 4,359,687 common shares and 4,359,687 incentive warrants as follows.

Number of shares issued upon exercise of existing warrants:  4,359,687 common shares

Purchase price (exercise price of the existing warrants):  45 cents per share (1,780,817 existing warrants); 50 cents per share (2,578,870 existing warrants)

Incentive warrants:  4,359,687 share purchase warrants to purchase 4,359,687 shares

Incentive warrant exercise price:  75 cents per share for a two-year period

Commissions in securities:  nil

All warrants that were not exercised under the warrant incentive program continued to be exercisable on their existing terms.

For further details, please refer to the company's news releases dated Oct. 24, 2025, and Dec. 1, 2025.