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Monday, August 29, 2016 6:13:04 AM
Each FT Unit shall consist of one flow-through common share and one
share purchase warrant exercisable for 36 months at $0.075. In addition, the Company will offer 6,250,000 units of
the Company (the “Units”) at a price of $0.04 per Unit, each Unit shall consist of one common share of the
Company and one share purchase warrant exercisable for a period of 18 months from closing at an exercise price of
$0.05.
The funds raised from the issuance of the FT Units shall be used for general exploration and/or development
expenditures which will qualify as expenses under paragraph 66 (12.66) (b) of the Income Tax Act (Canada) on the
Company’s property located in Quebec. The proceeds of the Unit financing will primarily be used to repay
outstanding loans and working capital.
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