Financing type:  brokered private placement

Gross proceeds:  $39,552,200

LIFE (listed issuer financing exemption) offering:  324,044,000 common share units with 324,044,000 common share warrants attached

LIFE offering price:  five cents per unit

Warrants:  Each warrant shall entitle the holder to purchase one common share of the company at an exercise price of 12 cents per share for a 60-month period from the date of issuance, subject to an acceleration right.

Convertible debenture:  $23.35-million of senior unsecured convertible debenture units (Each debenture consists of $1,000 of principal amount and 11,764.7059 warrants, equal to 274,705,881 warrants.)

Conversion price:  The principal in the debentures is convertible into shares at a conversion price of 8.5 cents per share.

Maturity date:  60 months from the closing date

Interest rate:  8 per cent per annum, payable in arrears on a quarterly basis

Commissions in securities:  15,743,000 broker warrants (two brokers)

Commission terms:  Each non-transferable broker warrant is exercisable at five cents for a 24-month period, subject to an acceleration right.

Disclosure:  Refer to the company's news releases dated Oct. 7, 2025, Dec. 8, 2025, Dec. 23, 2025, and Jan. 15, 2026.