Friday, December 13, 2019 5:46:45 PM
On August 16, 2019 the Company closed a non-brokered private placement of a convertible
debenture for gross proceeds of $642,679. The term of the debenture is twelve months and bears
interest at 8% per annum calculated on an annual basis and payable quarterly in arrears. The
debenture is convertible into common shares at a price of $0.25 per share at any time at the election
of the holder. Accrued interest of $10,705 is included in accounts payable and accrued liabilities.
On October 23, 2019 the Company closed a non-brokered private placement of a convertible
debenture for gross proceeds of $261,857. The term of the debenture is twelve months and bears
interest at 10% per annum calculated on an annual basis and payable quarterly in arrears. The
debenture is convertible into common shares at a price of $0.20 per share at any time at the election
of the holder. Accrued interest of $574 is included in accounts payable and accrued liabilities
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