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On July 10, 2023, the Company granted 10,000 non-qualified stock options to a consultant with an exercise price of $2.55 and an expiry date of July 10, 2028. The options shall vest in full on September 27, 2024.

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On July 25 and August 3, 2023, the Company sold a total of 22,995 shares of common stock for total proceeds of $91,731. The sale of the shares of common stock was in connection with the Form S-3 shelf registration statement, which was declared effective by the SEC on October 13, 2022 allowing the Company to issue up to $30,000,000 of shares of common stock and and prospectus supplement covering the offering, issuance and sale by us of up to $13,000,000 of shares of common stock that may be issued and sold under the At The Market Offering Agreement dated as of September 30, 2022.

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During the month of July 2023, the Company granted 321,950 stock options to various employees, directors, advisors, and consultants with exercise prices of $3.36 to $4.20 and an expiry date of 10 years from the date of issuance. The options will vest in two installments, 50% shall vest at the two-year anniversary of the grant date and remaining 50% shall vest at the three-year anniversary of the grant date.