Financing type:  non-brokered private placement of convertible debentures

Offering:  $1,173,000 principal amount of convertible debentures, convertible into common share units of the company (Each unit consists of one common share of the company and one share purchase warrant.)

Conversion price and terms:  eight cents per unit for the first 12 months; 10 cents per unit after the first 12 months until the maturity date

Maturity date:  18 months from the date of issuance

Interest rate:  15 per cent per annum

Forced conversion provision:  The company may, at its option, force the conversion of the convertible debentures at the conversion price on 30 days of notice if the volume weighted average trading price of the common shares on the TSX Venture Exchange is greater than 30 cents for the preceding 10 consecutive trading days.

Warrant exercise terms:  eight cents per share for the first 12 months, then 10 cents for the remaining six months thereafter, subject to an acceleration right

Commissions in securities:  449,750 finders' warrants

Commission terms:  Each non-transferable finder's warrant is exercisable at 10 cents for a two-year period, subject to an acceleration right.

Disclosure:  Refer to the company's news releases dated Nov. 5, 2024, Nov. 28, 2024, Dec. 18, 2024, Jan. 17, 2025.