True North Energy Corp. (TNEN)

[Beamer00]

During November 2019, 3SW received notice from Wind Tre S.P.A. that the Company’s exclusive SIM card resale
agreement would not be renewed and would expire in February 2020. At April 30, 2020, Wind Tre S.P.A. owed 3SW
approximately €1,500,000 ($1,650,000) due in October 2020 under the terms of the agreement, which is reflected
under ‘Accounts receivable’ on the accompanying balance sheet. During October 2020, the receivable due date was
extended to December 2020. 3SW is currently evaluating suppliers to replace Wind Tre S.P.A.