TSX Venture Exchange Offers Temporary Relief From $0.05 Minimum Pricing Requirement

The TSX Venture Exchange (the "TSXV" or the "Exchange") issued a bulletin on April 8, 2020 announcing temporary relief measures (the "Temporary Relief") from certain pricing requirements of the TSXV's Corporate Finance Manual (the "Manual"). The Temporary Relief has been initiated in response to the COVID-19 pandemic to revise the minimum pricing requirements of certain financings on the TSXV.

The minimum price at which shares listed on the TSXV ("Listed Shares") may be issued was lowered from $0.05 to $0.01 in certain circumstances. If the market price of an issuer's Listed Shares is less than or equal to $0.05, the minimum price at which that issuer may issue Listed Shares is equal to that market price, subject to a minimum price of $0.01. If the market price of an issuer's Listed Shares is greater than $0.05, the minimum price at which that issuer may issue Listed Shares remains equal to the market price less existing allowable discounts, subject to a minimum