The Warrants were issued to PCEP in 2023 and 2024 in connection with debt financing to Cavvy, then Pieridae Energy Limited. The Warrants, totalling 19,804,414, have been exercised using the cashless exercise mechanism specified in the warrant certificates. The warrants were exercised at a weighted average price of $0.4485 per share, in exchange for the issuance of 13,030,536 common shares.






