The Company intends to complete a non-brokered private placement to raise up to CAD$2,000,000 through the issuance of up to 2,666,667 units at a price of $0.75 per unit. Each unit consists of one common share of the Company and one-half of one common share purchase warrant, with each whole warrant exercisable at $1.50 for a period of two years after the date of issuance. The proceeds of the private placement will be used primarily to develop the Company's business, for marketing and investor relations activity, and for general working capital purposes.