The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Feb. 20, 2024.

Convertible debenture:  $2.5-million

Conversion price:  convertible into five million common shares at a price 50 cents

Maturity date:  Jan. 12, 2028

Interest rate:  The convertible debenture bears interest at the rate equal to the lesser of: (a) the United States secured overnight financing rate, as published by the Federal Reserve Bank of New York, plus 7 per cent per annum; and (b) 12.5 per cent.

Number of placees:  one placee

Total existing insider involvement:  five million (one insider)

The company issued a news release on May 1, 2024, confirming the closing of the private placement.