The Settlement Shares will be issued at a deemed price of CAD$1.750015, being the market price at the time of the agreement, to settle a total debt of C$115,494 pursuant to the Facility. This Debt is comprised of the principal debt amount of C$100,000, an establishment fee of C$5,000 and interest of C$10,494, being all of the obligations owed by Elemental to Tembo under the terms of the Facility. The issuance of the Settlement Shares remains subject to the approval of the TSX Venture Exchange. When issued, the Settlement Shares will be subject to a statutory hold period expiring on the date that is four months and one day after their issue.
