The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced Dec. 1, 2022, and Dec. 2, 2022.

Number of shares:  14.03 million common shares

Purchase price:  $1.50 per common share

Warrants:  14.03 million share purchase warrants to purchase 14.03 million common shares

Warrant exercise price:  $2 for a three-year period, subject to an accelerated expiry

Number of placees:  74 placees

Total existing insider involvement:  2,945,000 (seven placees)

Agents' fees:  cash commission of $381,127.50 payable to Desjardins Securities Inc.; cash commission of $381,127.50 payable to TD Securities Inc.; cash commission of $175,905 payable to BMO Capital Markets Corp.; cash commission of $175,905 payable to PI Financial Corp.; cash commission of $58,635 payable to Stifel Nicolaus Canada Inc.

The company issued a news release on Dec. 22, 2022, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.