Mr. Stuart Mills reports
EARLY WARNING NEWS RELEASE
Stuart Mills, the vice-president,
exploration, of Velocity Minerals Inc., is making an announcement in
accordance with National Instrument 62-103 (the early warning system and related takeover
bids) and National Instrument 62-104 (takeover bids and issuer bids).
Mr. Mills announces that on July 21, 2017, he acquired ownership and control of 7.65 million common shares in the capital of the issuer pursuant to a purchase and
sale agreement dated Jan. 24, 2017, whereby the issuer acquired all of the issued and
outstanding common shares in the capital of 1077076 B.C. Ltd., in
consideration and in exchange for common shares of the issuer. Of the
7.65 million subject shares, Mr. Mills acquired 4.5 million shares at a deemed issuance price of 25 cents per
share, and 3.15 million shares through common share purchase warrants, which were each exercised for
one common share in the capital of the issuer at 7.5 cents per share. Effective July 25, 2017, the
Velocity shares will be listed for trading on the TSX Venture Exchange; however, the
transaction did not occur on a stock exchange or other market that represents a published market
for securities.
Immediately before the completion of the transaction, Mr. Mills did not beneficially own or
control any Velocity shares. As a result of the transaction, Mr. Mills beneficially owns or
controls 7.65 million Velocity shares representing approximately 13.33 per cent of the currently issued
and outstanding Velocity shares.
Mr. Mills acquired the Velocity shares for investment purposes. However, Mr. Mills will review
his holdings from time to time and may, in the future, increase or decrease his ownership or
control over securities of the issuer as circumstances dictate.
An early warning report will be filed under the issuer's profile on the SEDAR website.
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