The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on March 28, 2023.

Convertible debenture:  $1.3-million

Conversion price:  convertible into units consisting of 7,647,059 common shares and 7,647,059 common share purchase warrants, at a conversion price of 17 cents of principal outstanding

Warrants:  Each warrant will have a term of two years from the date of issuance of the notes and will entitle the holder to purchase one common share. The warrants are exercisable at the price of 25 cents.

Maturity date:  three years from the date of issuance

Interest rate:  12 per cent per annum

Number of placees:  10 placees

Total existing insider involvement:  2,547,059 (two insiders)

The company issued a news release on April 17, 2023, confirming the closing of the private placement.