Further to convertible debentures issued pursuant to a private placement originally completed on Jan. 28, 2022, as amended on June 17, 2022, Dec. 5, 2022, and June 23, 2023, which was accepted for filing by the TSX Venture Exchange effective Sept. 6, 2023, and an amendment accepted by the exchange on Sept. 30, 2024, the exchange has consented to a new amendment of the original convertible debentures and the previously amended convertible debentures. The company is not receiving any new additional funds.

Original convertible debentures conversion price:   convertible into shares at 30 cents (or the United States dollar equivalent) per listed share of the principal outstanding

New amended convertible debentures conversion price:  convertible into shares at 10.5 U.S. cents (or 15 cents) per listed share of the principal outstanding

Original convertible debentures interest rate:  7.5 per cent per annum

New amended convertible debentures interest rate:  5.0 per cent per annum

The amount of aggregate principal outstanding is $6-million (U.S.). All other material details of the new amended convertible debentures remain unchanged from the original convertible debentures and/or the previously amended convertible debentures.

For further information, please refer to the company's press releases dated March 6, 2025, March 25, 2025, and June 5, 2025.