The TSX Venture Exchange has accepted for filing the documentation with respect to the non-arm's-length acquisition, by three-cornered amalgamation, of all the common shares of Pershimex Resources Corp. Pursuant to the amalgamation, each Pershimex shareholder immediately prior to the effective time of the amalgamation received 0.5712 of an Abcourt Mines Inc. common share for each one common share of Pershimex. The amalgamation resulted in Pershimex becoming a wholly owned subsidiary of Abcourt.

Each holder of Pershimex convertible securities (stock options and warrants) will be entitled to receive, upon the exercise of their convertible securities, in lieu of Pershimex shares to which such holder was entitled upon such exercise, and for the same aggregate consideration payable therefor, the number of Abcourt common shares that the holder would have been entitled to receive if such holder had exercised such holder's Pershimex convertible securities immediately prior to the effective time of the amalgamation.

Pursuant to the transaction, Abcourt issued an aggregate of 79,294,373 common shares of Abcourt. An additional number of up to 14,614,560 common shares of Abcourt can be issued assuming the exercise of all Pershimex stock options and warrants.

On and after the effective time, the holders of certificates representing Pershimex common shares may surrender such certificates to the transfer agent, together with a completed letter of transmittal, and obtain the Abcourt common shares to which such Pershimex shareholders are so entitled.

The closing of the amalgamation occurred on May 11, 2023. Pershimex common shares were delisted from the TSX Venture Exchange effective at the close of business on May 16, 2023.

Abcourt has disclosed the transaction in news releases dated June 9, 2022, July 5, 2022, Oct. 5, 2022, Nov. 21, 2022, April 24, 2023, and May 11, 2023.