The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on May 1, 2023.

Convertible debentures:  $1,514,000 (Each debenture unit will consist of $50,000 principal amount of convertible debentures and 100,000 non-transferable share purchase warrants, exercisable at a price of 15 cents for a period of 30 months.)

Conversion price:  The debentures are convertible into common shares at the option of the holder at the price of 20 cents per common share.

Maturity date:  Nov. 29, 2025, subject to a forced conversion

Warrants:  Each warrant will have a term of 30 months from the date of issuance of the notes and entitle the holder to purchase one common share. The warrants are exercisable at the price of 15 cents.

Interest rate:  12 per cent semi-annually

Number of placees:  16 placees

Total existing insider involvement:  22 units (three insiders)

Total pro group involvement:  one unit (one pro group)

The company issued a news release on May 29, 2023, confirming the closing of the private placement.