The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Oct. 7, 2020, and Nov. 5, 2020.

• Number of shares: 16,078,431 shares
• Purchase price: 12.75 cents per share
• Warrants: 16,078,431 share purchase warrants to purchase 16,078,431 shares
• Warrant exercise price: 40 cents for a two-year period; the warrants are subject to an accelerated exercise provision in the event the closing price of the company’s shares exceeds 45 cents for five consecutive trading days
• Number of placees: 43 placees
• Insiders: Adam Cegielski, 1.5 million; Sam Mithani, 784,314
• Pro group: one placee, 100,000
• Finders’ fees:
  • Canaccord Genuity Corp. — $13,739.40 and 107,760 finders’ warrants that are exercisable into common shares at 40 cents per share to Nov. 16, 2022, and subject to an accelerated exercise provision
  • PI Financial Corp. — $918.00 and 7,200 finders’ warrants that are exercisable into common shares at 40 cents per share to Nov. 16, 2022, and subject to an accelerated exercise provision
  • Mackie Research Capital Corp. — $3,595.50 and 28,200 finders’ warrants that are exercisable into common shares at 40 cents per share to Nov. 16, 2022, and subject to an accelerated exercise provision
  • Industrial Alliance Securities Inc. — $3,021.75 and 23,700 finders’ warrants that are exercisable into common shares at 40 cents per share to Nov. 16, 2022, and subject to an accelerated exercise provision

Pursuant to Corporate Finance Policy 4.1, Section 1.9(e), the company issued a news release dated Nov. 17, 2020, announcing the closing of the private placement and setting out the expiry dates of the hold period(s). Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.