Effective Dec. 6, 2022, the company's Form F-1 registration statement was filed with and accepted by the TSX Venture Exchange.

The exchange has been advised that the closing of the offering occurred on Dec. 9, 2022, for gross proceeds of $11,144,880 (U.S.).

Offering:  2.5 million units (Each unit will consist of one common share and one common share purchase warrant.)

Unit price:  $4.13 (U.S.) per unit

Warrants:  2.5 million warrants to purchase 2.5 million common shares

Warrant exercise price/term:  $5 (U.S.) per warrant for five years from the date of issuance

Underwriter:  ThinkEquity LLC

Underwriter's fee:  aggregate of $835,000 (U.S.) and 134,950 underwriter's warrants (Each underwriter's warrant is exercisable to acquire one common share at a price of $5.1625 (U.S.), exercisable as of June 4, 2023, and expiring Dec. 6, 2027.)

Overallotment option:  The company granted the underwriter an overallotment option to purchase up to an additional 375,000 common shares and/or up to 375,000 prefinanced warrants and/or up to 375,000 warrants (on the same terms as the offering warrants). The underwriter has exercised its overallotment option to purchase an additional 199,000 prefinanced warrants at a price of $4.12 per prefinanced warrant and 375,000 warrants. Each prefinanced warrant has an exercise price of one U.S. cent per share.

For further details, please refer to the company's Form F-1 registration statement dated Dec. 6, 2022 (filed on EDGAR), and the company's news releases dated Aug. 16, 2022, Dec. 6, 2022, and Dec. 9, 2022.