Further to convertible debentures issued pursuant to a private placement originally accepted by the TSX Venture Exchange on July 7, 2023, the exchange has accepted for an amendment of the convertible debenture. The company is not receiving any new additional funds.

Private placement -- non-brokered, convertible debentures, amendment

Convertible debentures -- maturity date:  June 30, 2026

Amended convertible debentures -- maturity date:  June 30, 2028 (new)

Convertible debentures -- conversion price:  convertible into a maximum of 800,000 common shares at $1.25 per listed share

Amended convertible debentures -- conversion price:  convertible into a maximum of one million common shares at $1 per listed share (new)

The amount of aggregate principal outstanding is $1-million, convertible into shares at an interest rate of 12 per cent per annum. All other details of the new amended convertible debentures remain unchanged from the convertible debenture.

Warrant term extension

Detachable warrants -- original exercise terms:  460,000 detachable warrants with an exercise price of $1.30 per listed share until June 30, 2026

Detachable warrants -- new exercise terms:  460,000 detachable warrants with an exercise price of $1.30 per listed share until June 30, 2028 (new)

For further information, please refer to the company's news release dated June 22, 2023, July 6, 2023, June 24, 2026, and June 29, 2026.