On October 12, 2023, the company issued 8,571,994 common shares at an issue price of CAD 0.35 per common share for gross proceeds of CAD 3,000,198 in its first tranche. In connection with the offering, the company paid total cash commissions of CAD 46,660 and issued 133,315 finder's warrants. Each finder's warrant is exercisable into a common share of the company at an exercise price of CAD 0.35 for a period of two years from the date of closing of the private placement.

The securities issued in connection with the offering will be subject to a four-month hold period ending on Feb. 12, 2024, in accordance with securities laws and the policies of the Canadian Securities Exchange, as applicable. The company has received CAD 5,343.07 ($3,859) from 1 investor pursuant to Regulation D.