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The Convertible Debentures will bear interest at a rate of 12.0%, payable monthly in arrears, and mature twenty-four (24) months following the date of issue. The principal amount of Convertible Debentures outstanding will be convertible, in whole or in part, at the sole discretion of the holder, into units of the Company (“Units”) at any time on or after November 1, 2019 at a price of C$0.40 per Unit. Each Unit is comprised of one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of C$0.50 per share at any time on or prior to forty-eight (48) months following the date of issue. Holders of Convertible Debentures will have the option to cause the Company to redeem the outstanding principal amount of such Convertible Debentures at par following the completion of the DenseLight sale. IBK Capital will be paid a broker fee of 5.0% of the gross proceeds raised from the sale of Convertible Debentures.