The TSX Venture Exchange has accepted the company's warrant incentive program designed to encourage the exercise of up to 9.25 million existing warrants of the company. This total comprises 8.2 million warrants, each exercisable at 15 cents until June 27, 2027, and 1.05 million warrants, each exercisable at 15 cents until Oct. 9, 2027.

Pursuant to the warrant incentive program, each of the holders of warrants that exercised warrants during an early exercise period received an additional one common share purchase warrant entitling such holder to acquire one common share of the company at a price of 15 cents per share for a three-year period.

The early exercise period commenced on April 16, 2026, and expired on May 14, 2026.

In connection with the warrant incentive program, a total of 4.03 million warrants were exercised, providing gross proceeds of $604,500 to the company, and resulting in the company issuing 4.03 million common shares and 4.03 million incentive warrants as follows.

Number of shares issued upon exercise of existing warrants:  4.03 million common shares

Purchase price (exercise price of the existing warrants):  15 cents per share (4.03 million existing warrants)

Incentive warrants:  4.03 million share purchase warrants to purchase 4.03 million shares

Incentive warrant exercise price:  15 cents per share for a three-year period

Commissions in securities:  nil

All warrants that were not exercised under the warrant incentive program continued to be exercisable on their existing terms.

For further details, please refer to the company's news releases dated April 16, 2026. and June 9, 2026.