On August 1, 2023, the company amended the terms of the transaction and issued 12,685,113 units at a price of CAD 0.18 per unit for aggregate gross proceeds of CAD 2,283,320 in its first tranche. Each unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at CAD 0.25 until July 31, 2025, subject to an accelerated expiry provision, whereby in the event the daily volume weighted average trading price of the company?s shares on the TSX Venture Exchange, or such other stock exchange where the majority of the trading volume occurs, exceeds CAD 0.40 for a period of 10 consecutive trading days, at the company?s election, the period within which the warrants are exercisable, will be reduced and the holders of the warrants will be entitled to exercise their warrants for a period of 30 days commencing on the day the company provides notice, any outstanding warrants not exercised during the 30 day period will expire. The securities issued to insiders and consultants of the Company are subject to a hold period expiring December 1, 2023, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. Insiders of the company participated in the transaction for CAD 300,000.

On August 8, 2023, the company announced that it expects to receive second and final tranche.