Financing type: non-brokered private placement
Offering: $744,921 principal amount of convertible debenture convertible into up to 14,898,420 common shares at five cents during the first year and into up to 7,449,210 common shares at 10 cents thereafter until maturity, with 7.44 million detachable warrants
Conversion price: five cents per common shares during the first year and 10 cents per common share thereafter
Maturity date: three years from issuance
Interest rate: 10 per cent per annum
Warrant exercise terms: 7.5 cents per listed share for a two-year period
Disclosure: Refer to the company's news releases dated Oct. 2, 2024, and Nov. 2, 2024.
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