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Clover Leaf files amended statement for North Shore QT

2023-09-22 14:35 ET - News Release

Mr. Tsend Tseren reports

CLOVER LEAF CAPITAL ANNOUNCES FILING OF AMENDED FILING STATEMENT FOR ITS QUALIFYING TRANSACTION

Clover Leaf Capital Corp. has filed an amended and restated filing statement dated Sept. 21, 2023, with respect to its previously announced acquisition of North Shore Energy Metals Ltd. by way of a share exchange agreement as is more particularly described in the company's press release dated Dec. 23, 2022, June 30, 2023, and Aug. 18, 2023. The transaction will constitute the company's qualifying transaction pursuant to the policies of the TSX Venture Exchange.

Clover Leaf and North Shore anticipate closing the transaction on or about Oct. 31, 2023.

On May 30, 2023, the company announced North Shore's option agreement to earn up to a 100-per-cent interest in 11 mining claims that comprise the 42,900-hectare South Falcon uranium property in the eastern Athabasca basin region of Saskatchewan. The claim block is adjacent to and south and east of North Shore's 12,800-hectare, 100-per-cent-owned Falcon uranium property. The addition of the new claims to its portfolio will increase the size of the Falcon property to 55,700 hectares.

The company engaged Axiom Exploration Group Ltd. to prepare an updated National Instrument 43-101 technical report on the expanded Falcon property. The report is published for Clover Leaf and North Shore with an effective date of Aug. 31, 2023. The qualified person and main author for the report is Troy Marfleet, PGeo, of Axiom Exploration.

The amended and restated filing statement, which has been amended to incorporate the now updated Falcon report, has been filed on SEDAR+. Investors are encouraged to review the amended and restated filing statement, as well as the updated Falcon report, on SEDAR+, which provides detailed information about the transaction, the resulting issuer, the company and North Shore.

About Clover Leaf Capital Corp.

The company is a capital pool company (CPC) within the meaning of the policies of the TSX-V that has not commenced commercial operations and has no assets other than cash. The current directors and officers of the company are: Tsend Tseren (director and chief executive officer), Dan O'Brien (chief financial officer), Ben Meyer (corporate secretary), Morgan Hay (director), Alain Fontaine (director), Blake Steele (director), Alex Molyneux (director) and Doris Meyer (director). Except as specifically contemplated in the CPC policies of the exchange, until the completion of its qualifying transaction (as defined therein), the company will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed qualifying transaction.

We seek Safe Harbor.

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