On August 3, 2023, The company issued 30,210,000 units of the company at a price of CAD 0.10 per unit for gross proceeds of CAD 3,021,000 in its first tranche. Each unit is composed of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at a price of CAD 0.14 per share, subject to adjustment in certain events, until August 3, 2026. The company paid Canaccord a cash commission of CAD 46,500, issued 539,450 units and issued an aggregate of 1,004,450 non-transferrable broker warrants of the company, exercisable at any time prior to August 3, 2026, with each such broker warrant entitling the holder thereof to purchase one unit at an exercise price equal to the issue price, subject to adjustment in certain events.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 48 placees. The company paid finder's fees of CAD 46,500 in cash and issued 539,450 shares, 539,450 warrants and 1,004,450 broker warrants. Each broker warrant entitles the holder to purchase one unit at a price of CAD 0.10 for a period of three years from the date of issuance of the broker warrants, with each unit comprising one common share and one common share purchase warrant, exercisable at the price of CAD 0.14 for a period of three years from the date of issuance of the broker warrants.