announced a non-brokered private placement of up to 6,000,000 units at a price of CAD 0.50 per unit for gross proceeds of up to CAD 3,000,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of CAD 1.05 for a period of 12 months following the issuance of the units.

The transaction included participation from returning investor Kings Chapel International Limited and other insiders of the corporation. The closing of the private placement is subject to the corporation obtaining all necessary corporate and regulatory approvals, including approval of the TSXV. All securities issued to Canadian investors in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation in Canada.

The corporation may pay finders' fees in connection with a private placement and in accordance with the policies of the TSX Venture Exchange.