Further to the TSX Venture Exchange bulletin dated May 23, 2024, and pursuant to the debenture indenture dated Nov. 1, 2023, available on SEDAR+, the exchange confirms that, effective on Oct. 31, 2024, the listed debentures (LSL.DB) will bear interest at a rate of 11 per cent per annum, payable in cash semi-annually on the last day of April and October of each year.

Furthermore, this is a reminder that the annual interest rate will be recalculated twice every year on April 30 and Oct. 31 of each year, starting April 30, 2025, until the maturity date, and shall be equal to the base rate less 100 basis points (1.0 per cent) for each business objective achieved. The interest rate will remain at 11 per cent per annum until the maturity date, unless the company issues a subsequent news release announcing a change to the interest rate pursuant to the achievement of a business objective. The exchange will issue a subsequent bulletin in advance of any interest rate review date where an interest rate change takes effect. All capitalized terms used herein and not otherwise defined shall have the meanings given to them in the exchange bulletin dated May 23, 2024.

For further information, please refer to the company's news release dated Oct. 24, 2024.

In connection with the interest rate change, the exchange is implementing the following special trading and settlement rules for the listed debentures, they will trade for cash on Oct. 30, 2024.

Mandatory trading and settlement rules:  trades on Oct. 30, 2024, to settle Oct. 30, 2024