[1]

Loans bearing interest, accrue at 10% and 12% per annum are all unsecured.

[2]

On November 15, 2021, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺350,000 (or approximately US$25,600). The loan matures on November 15, 2024 and bears interest at 19.44% per annum. Principal and accrued interest are paid monthly. During the three months ended March 31, 2022, the Company made $1,516 (2021 -$nil) in principal payments and $1,113 (2021 - $nil) in interest payments.

[3]

On August 2, 2019, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺300,000 (or approximately US$53,600). The loan matured on August 2, 2022 and bore interest at 20.5% per annum. Principal and accrued interest were paid monthly. On November 11, 2021, the loan was fully repaid. During the three months ended March 31, 2022, the Company made $nil (2021 - $4,113) in principal payments and $nil (2021 - $2,947) in interest payments.

[4]

On February 4, 2020, Garanti Bank extended a long-term loan to Park Place Turkey Limited in the amount of ₺500,000 (or approximately US$83,500). The loan matured on February 4, 2022 and bears interest at 13.25% per annum. Principal and accrued interest are paid monthly. During the three months ended March 31, 2022, the Company made $4,026 (2021 - $7,471) in principal payments and $62 (2021 - $1,087) in interest payments. As at Macrh 31, 2022, the loan has been fully repaid.

[5]

On March 4, 2021, the Company received $500,000 from a third party (the “Lender”) repayable in one year from the date of disbursement. The amount is subject to an interest at a rate of 15% per annum. The Company granted 1,000,000 common share purchase warrants to the lender in conjunction with the loan. The warrants expire in two years and have an exercise price of $0.16 per warrant. The fair value of the share purchase warrants has been accounted as a debt issuance cost and offset against the loan and will be recognized as financing cost over the term of the loan. The fair value of the warrants was determined to be $152,750 based on the Black-Scholes Option Pricing Model using the following assumptions: expected dividend yield - 0%, expected volatility - 229%, risk-free interest rate - 0.08% and an expected remaining life – 2.00 years. During the three months ended March 31, 2022, the Company recognized $26,365 (2021 – $11,299) as financing cost and an accrued interest of $17,671 (2021 - $5,548).