| Share capital |
| a) |
Authorized share capital |
Unlimited subordinate voting shares without par
value and conferring 1 vote per share.
Unlimited proportionate voting shares without
par value, conferring 200 votes per share, convertible at the holder’s option into subordinate voting shares on a basis of 200 subordinate
voting shares for 1 proportionate voting shares.
| b) | Subordinate voting shares and
proportionate voting shares issued |
| (i) | On February 7, 2025, the Corporation completed a private
placement consisting of 2,503,601 units of the Corporation at a purchase price of $2.64 per unit for gross proceeds of $6,609,500. Each
unit is comprised of one subordinate voting share of the Corporation and one half warrant, with each warrant entitling the holder to
purchase one additional share. The warrants have an exercise price of $3.66 per share and exercise period of three years from the issuance
date. |
| (ii) | On May 30, 2025, the Corporation entered into an at-the-market
sales agreement with A.G.P./Alliance Global Partners (the “Agent”), which may issue and sell from time to time such number
of subordinate voting shares of the Corporation having an aggregate offering price of up to US$100 million. By a prospectus supplement
that the Corporation filed in November 2025, the at-the-market offering program was upsized to allow the Corporation to sell through
Agent subordinate voting shares having an aggregate offering price of up to US$200 million. There is a cash commission of up to 3% on
the aggregate gross proceeds raised. During the six months ended June 30, 2025, the Corporation issued 806,291 subordinate voting shares
at an average share price of $2.13 for a total aggregate of $1,715,604 pursuant to the at-the-market equity program. |
| (iii) | On May 8, 2026, the Corporation filed with the SEC a prospectus
supplement to the base prospectus and the accompanying preliminary prospectus supplement included in the Corporation’s registration
statement on Form S-3 (File No. 333-294953), filed with the SEC on April 9, 2026, covering the offer and sale from time to time of up
to an aggregate of $175,000,000 of subordinate voting shares of the Corporation’s common stock, no par value per share, which includes
the $75,000,000 of subordinate voting shares covered by the prior prospectus supplement. |
During the six months ended June 30, 2026, pursuant
to this at-the-market equity program, the Corporation issued 27,950,000 subordinate voting shares for a total aggregate of 163,209,169.
There is a cash commission of up to 3% on the aggregate gross proceeds raised.
|