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Given this new information, Mr. Benson also announced today that the Corporation intends to undertake a new non-brokered private placement offering of up to 10,000,000 units at a price of $0.30 per Unit for gross proceeds of $3,000,000 to various subscribers. Each Unit would consist of one Class A common share of the Corporation issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one Class A common share purchase warrant. Each whole Warrant would entitle the holder thereof to purchase one regular Class A common share of the Corporation at a price of $0.40 for a period of two years from the date of issuance.