Share Capital Structure – as at January 1, 2020

Shares Issued and Outstanding
381,830,205
Options (exercise price of $1.59 - $3.39)
36,473,162
Fully Diluted Share Capital (1)
418,303,367

(1) Inclusion of potential debenture conversions would bring the number of fully diluted shares to 474,548,243.
(2) US$15M 2020 Debenture – potential conversion is based on the US$15M Debenture amount converted to CAD on December 31, 2020 FX rate of 1.2732 at the conversion price of $2.34.