The TSX Venture Exchange has accepted for filing the company's qualifying transaction, as described in its filing statement dated March 6, 2024. As a result, at the opening on Friday, March 22, 2024, the company will no longer be considered a capital pool company. The qualifying transaction includes the following.

The qualifying transaction involves the arm's-length acquisition of Ramp Metals Inc. in consideration of 23,912,025 common shares at a deemed price of 20 cents. Concurrent with the qualifying transaction, Ramp Metals completed a non-brokered private placement of subscription receipts, resulting in the issuance of 5,974,280 common shares at 20 cents per share and 2,987,140 warrants exercisable at 35 cents for 24 months from closing.

Nineteen million eight hundred thousand one hundred common shares issued to principals and non-principals pursuant to the qualifying transaction will be subject to a Tier 2 surplus security escrow agreement to be released over a 36-month period. Four hundred thousand common shares issued to non-principals pursuant to the qualifying transaction will be subject to a Tier 2 value security escrow to be released over a 36-month period, in accordance with seed share resale restrictions. One million one hundred thirty-six thousand one hundred thirty-two common shares are subject to a CPC (capital pool company) escrow agreement to be released over an 18-month period.

The exchange has been advised that the above transactions have been completed.