Item 2. Unregistered Sales of Equity Securities
ITEM
2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
On
June 30, 2025, we executed securities purchase agreements to issue 20,000,000 units (each unit comprising one share of common stock
and two five-year warrants with an exercise price of $0.89), targeting gross proceeds of $4.6 million (referred to in Item 2 of Part
I as the Private Placement and described in greater detail there). The Private Placement closed on August 19, 2025.
ITEM
3: DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
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