The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Sept. 21, 2023, and Oct. 17, 2023.

Number of shares:  7.5 million shares

Purchase price:  20 cents per share

Warrants:  7.5 million share purchase warrants to purchase 7.5 million shares

Warrant exercise price:  40 cents for a two-year period

Number of placees:  47 placees

Total existing insider involvement:  100,000 (one insider)

Total pro group involvement:  500,000 (three pro groups)

Agent's fee:  $90,000 cash and 450,000 options payable to Haywood Securities Inc. (Each compensation option is exercisable to acquire one unit at a price of 20 cents per compensation option unit until Nov. 2, 2025. Each compensation option unit consists of one common share and one warrant, with each compensation option warrant entitling the holder to purchase one common share at a price of 40 cents per share until Nov. 2, 2025. The company has paid Haywood a corporate finance (CF) fee of $36,000 in cash and issued 450,000 units at a price of 20 cents per CF unit. Each CF unit consists of one common share and one common share purchase warrant. Each CF warrant will entitle the holder thereof to purchase one additional common share at a price of 40 cents until Nov. 2, 2025.)

The company issued news releases on Nov. 2, 2023, and Nov. 16, 2023, confirming the closing of the private placement. Note that in certain circumstances, the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.