The TSX Venture Exchange has accepted for filing the company's proposal to issue two million bonus warrants in consideration for unsecured loans between the company, and an arm's-length party and a non-arm's-length party. Pursuant to the loans, the lenders advanced an aggregate of $2-million principal amount to the company. The loans will mature on Jan. 1, 2028, and shall bear interest at a blended rate of 13 per cent per annum. The loans may be redeemed by the company at any time on or after Jan. 1, 2026.

Each warrant is exercisable into one common share at 70 cents for a period of 36 months.

For further details, please refer to the company's news release dated Dec. 18, 2024.