Financing type:  non-brokered private placement

Offering:  $940,000 principal amount of convertible debentures, convertible into up to 11.75 million listed shares with 9.4 million detachable warrants

Conversion price:  eight cents per listed share for the first 12 months, 10 cents per listed share for the next 12 months and 12 cents per listed share thereafter until maturity

Maturity date:  36 months from issuance

Interest rate:  12 per cent per annum

Warrant exercise terms:  Each detachable warrant is exercisable into one common share over a 36-month period from date of issuance of the convertible debentures, at an exercise price of 14 cents per share for the first 12 months, 16 cents per share for the next 12 months and 18 cents per share thereafter until expiry.

Non-cash commission:  53,750 finder's warrants

Commission terms:  Each non-transferable warrant is exercisable at 16 cents for a three-year period.

Public disclosure:  Refer to the company's news releases dated April 8, 2024, and May 14, 2024.