Financing - reason for sp not performing latelyAdditionally, the Company announces that, subject to regulatory approval, it is conducting a non-brokered private placement with participation from strategic investors for proceeds of up to $3 million on a best effort basis. The private placement is priced at $0.15 per unit with each unit consisting of one common share and one-half of one common share purchase warrant, each full warrant entitling the holder thereof to acquire an additional common share of the Company for $0.22 for a period of 24 months from the date of issuance.