On June 7, 2024, the company announced it has issued 18,950,975 Common Shares at a price of CAD 0.40 per Common Share for gross proceeds of CAD 7,580,390 in its second tranche. As a result of the completion of the second tranche, the total gross proceeds of the Offering was CAD 12,355,888 from the issuance of an aggregate of 30,889,721 Common Shares. In connection with the closing of the second tranche of the Offering, the Agent received cash commission of CAD 450,823; and common share purchase warrants entitling the Agent to purchase up to 1,107,059 Common Shares at a price of CAD 0.40 per Common Share for a period of two years from the closing of the Offering.

In addition, the Agent received a corporate advisory fee of CAD 250,000 from the Company which was satisfied through the issuance of 625,000 Common Shares at a price of CAD 0.40 per share on closing of the second tranche.