The TSX Venture Exchange has accepted for filing the company's proposal to issue 500,000 bonus warrants (non-transferable) to an arm's-length lender in consideration of a $5-million secured revolving operating loan facility with an interest rate at prime plus 1 per cent per annum and a $10-million secured non-revolving reducing facility with an interest rate at prime plus 2.5 per cent per annum. Both of the above loans have a maturity date of two years from closing.

Each warrant will be exercisable for one common share of the company at a price of 80 cents per share for a period of two years from the date of issuance.

For additional details, please refer to the company's news release dated June 29, 2023.