The Warrants were issued pursuant to a non-brokered private placement that closed in two tranches. An aggregate of 7,830,000 Warrants were issued in the first tranche of the private placement, which closed on December 20, 2023 (the “2023 Warrants”). An aggregate of 500,000 Warrants were issued in the second tranche of the private placement, which closed on February 26, 2024 (the “2024 Warrants”). Each 2023 Warrant and 2024 Warrant entitled the holder to purchase one common share of the Company at an exercise price of $0.10 for a two year period. The original expiry date of the 2023 Warrants is December 20, 2025 and the original expiry date of the 2024 Warrants is February 26, 2026. The Company proposes to extend the expiry dates of the 2023 Warrants and the 2024 Warrants by an additional 12 months, such that the 2023 Warrants will expire on December 20, 2026 and the 2024 Warrants will expire on February 26, 2027. All other terms of the 2023 Warrants and the 2024 Warrants will remain the same. None of the 2023 Warrants and the 2024 Warrants have been exercised to date. The warrant extension remains subject to approval of the TSXV.