The company's short form base shelf prospectus dated Jan. 16, 2024, was filed with and accepted by the TSX Venture Exchange and filed with and receipted by the British Columbia Securities Commission, pursuant to the provisions of the Securities Act (British Columbia), and the Ontario Securities Commission, pursuant to the provisions of the Securities Act (Ontario), on Jan. 16, 2024. Under Multilateral Instrument 11-102, Passport System, the prospectus is deemed to have been filed with and receipted by each of the securities regulators in Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Yukon, Nunavut, and the Northwest Territories. The TSX Venture Exchange has also accepted the filing of the company's prospectus supplement dated March 7, 2024.

The TSX Venture Exchange has been advised that on March 13, 2024, the company completed an offering of 16,611,750 units (including 2,166,750 units issued in connection with the full exercise of the overallotment option) pursuant to the prospectus supplement to the prospectus dated March 7, 2024, for gross proceeds of $14,950,575 (including gross proceeds from the full exercise of the overallotment option).

Offering:  14,445,000 units

Unit price:  90 cents per unit (Each unit consists of one common share and one-half of one common share purchase warrant.)

Warrant exercise price/term:  Each warrant has a term of three years from the closing date and is exercisable into one common share at a price of $1.20 per common share.

Underwriters:  Cormark Securities Inc., BMO Nesbitt Burns Inc., Desjardins Securities Inc., Eight Capital, PI Financial Corp., Raymond James Ltd. and Stifel Nicolaus Canada Inc.

Underwriters' commissions:  an aggregate of $754,510.49 in cash

Overallotment option:  The underwriters were granted an option to purchase up to an additional 15 per cent of the units sold pursuant to the offering for a period of 30 days from and including the closing date. The overallotment option has been fully exercised for 2,166,750 units.

For further information, please refer to the company's prospectus supplement dated March 7, 2024, and the news releases dated March 5, 2024, March 6, 2024, and March 13, 2024.