The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Dec. 6, 2023.

Convertible debenture:  principal amount of $2-million in a secured convertible loan

Conversion price:  After six months from the date of issuance, at the election of the lender, the convertible loan may be converted into common shares in the capital of the company at a conversion price of 10 cents of principal per share.

Maturity date:  Dec. 22, 2026

Interest rate:  10 per cent per annum plus the Canadian overnight repo rate average, payable in cash or through the issuance of shares, subject to prior exchange approval

Number of placees:  one placee

Insiders:  one insider, $2-million

The company issued a news release on Dec. 11, 2023, confirming the closing of the private placement.