On September 28, 2023, The company issued 1,312,500 units at an issue price of CAD 0.016 per unit for the gross proceeds of CAD 21,000 and convertible debentures for the gross proceeds of CAD 450,000; aggregate gross proceeds of CAD 471,000. Each Unit consists of one common share and one Common Share purchase warrant. Each Warrant will entitle the holder to purchase one additional Common Share at a price of CAD 0.05 per Common Share for a period of 24 months from the closing.

The Debentures mature one year from the date of issuance and bear interest at a rate of 15% per annum. The Debentures are convertible into Common Shares at a conversion price of CAD 0.05 per Common Share. All securities issued pursuant to the private placements are subject to a statutory hold period of four months and one day following the closing.

The bonds will mature on September 28, 2024.