The TSX Venture Exchange has accepted for filing the company's proposal to issue a maximum of 1.44 million bonus shares (in the manner described herein) to certain non-arm's-length parties in consideration of extending the maturity date of the loan, from March 11, 2024, to March 11, 2025. The loan was previously accepted by the exchange on April 19, 2022, and the exchange accepted an extension on Feb. 2, 2023.

The company will issue 4,000 common shares per month (prorated for partial months) for each $1-million (U.S.) of the principal amount outstanding under the loan from time to time up to March 11, 2025.

For additional details, please refer to the company's news release dated Dec. 21, 2023.