The closing of the Offerings remains subject to stock exchange and regulatory approvals and, in the case of the Non-Brokered Offering, a minimum Funding Amount of US$10 million, receipt of the Stockholder Consent (as defined below), closing of the Debt Restructuring Transactions (as defined below), and other customary closing conditions. There can be no assurance as to whether or when either or both of the Offerings may be completed, either on the terms previously announced, described herein or at all. Standby Facility Developments The Company and Teck have agreed that the previously announced uncommitted revolving standby prepayment facility of up to US$10 million (the " SP Facility "), to be provided by Teck to the Company at closing of the Non-Brokered Offering, will bear interest at a rate of 13.5% per annum until June 30, 2027 and a rate equal to 15.0% per annum thereafter, calculated and capitalized quarterly.