Kaymus Resources Announces Annual Meeting Results, Share Consolidation and Return of Capital to Shareholders

CALGARY, AB, May 29, 2026 /CNW/ - Kaymus Resources Inc. (the "Company" or "Kaymus") (NEX: KYS.H) announces that, at its annual and special meeting of shareholders held on May 22, 2026 (the "Meeting"), shareholders approved, among other matters:

• the election of Donald Poruchny, James Evaskevich and Trish Olynyk as directors of the Company;
• the re-appointment of MNP LLP, Chartered Accountants, as auditors of the Company for the ensuing year, with remuneration to be fixed by the board of directors;
• a consolidation of the Company's issued and outstanding common shares (the "Common Shares") on the basis of up to ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share, as may be determined by the board of directors of the Company (the "Consolidation"); and
• a reduction of the stated capital account maintained in respect of the Common Shares in an aggregate amount of up to $2,315,328.50 for the purpose of making a return of capital distribution to holders of Common Shares.

Following the Meeting, the board of directors of the Company approved the implementation of the Consolidation on a ten-for-one basis and the return of capital distribution described below, each subject to final acceptance by the NEX board of the TSX Venture Exchange.

Consolidation

The board of directors of the Company have approved the Consolidation on a ten-for-one basis. The Company currently has 23,153,285 Common Shares issued and outstanding. Following completion of the Consolidation, the Company expects to have approximately 2,315,328 Common Shares issued and outstanding. No fractional Common Shares will be issued in connection with the Consolidation. Any fractional Common Share that would otherwise be issuable will be rounded down to the nearest whole Common Share, and no cash consideration will be paid in respect of any such fractional interest.

The Company believes that the Consolidation will provide greater flexibility for future corporate activities and may improve the marketability of the Common Shares.

The Company expects that the Common Shares will commence trading on the NEX board of the TSX Venture Exchange on a post-Consolidation basis at the opening of trading on June 2, 2026 under the Company's existing trading symbol, KYS.H.

Registered shareholders will receive a letter of transmittal from the Company's transfer agent, TSX Trust Company, with instructions for exchanging their share certificates or direct registration system advices representing pre-Consolidation Common Shares for post-Consolidation Common Shares. Shareholders who hold their Common Shares through a broker, investment dealer, bank, trust company or other intermediary should contact their intermediary for instructions and assistance.

Return of Capital

Following the Meeting, the board of directors approved a reduction of the stated capital account maintained in respect of the Common Shares pursuant to the Business Corporations Act (Alberta) in the amount of $1.00 per post-Consolidation Common Share (or $0.10 per pre-Consolidation Common Share) for an aggregate distribution amount of up to $2,315,328.50 for the purpose of making a special one-time return of capital distribution to holders of record of Common Shares. Subject to final acceptance by the NEX board of the TSX Venture Exchange, the Company intends to distribute the return of capital to holders of record of Common Shares as at the close of business on June 4, 2026. The distribution is expected to be paid on or about June 11, 2026. The stated capital account of the Common Shares will be reduced by the same aggregate amount paid as the return of capital distribution.

Cautionary Statement Regarding Forward-looking Information

This news release contains certain statements that may be deemed "forward-looking information" within the meaning of applicable securities laws. All statements herein, other than statements of historical fact, constitute forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information contained in this news release may include, without limitation, statements with respect to: the completion of the Consolidation; the intended effects of the Consolidation; the commencement of trading of the post-Consolidation Common Shares on the NEX board of the TSX Venture Exchange; receipt of final acceptance from the NEX board of the TSX Venture Exchange with respect to the Consolidation and the return of capital distribution; the expected reduction of stated capital of the Common Shares and the return of capital to holders of Common Shares in an amount equal to the reduction of stated capital, including the anticipated amount per share, record date and payment date.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Risk factors that may cause actual results to vary materially from those indicated in the forward-looking information include those risks related to, among other things, changes to business, social and economic conditions and those risks discussed or described in the Company's public materials filed on SEDAR+ at www.sedarplus.ca from time to time.

Although the Company believes that the forward-looking information is reasonable based on information available as of the date hereof, forward-looking information is neither historical fact nor assurance of future performance or results. Instead, it is based only on management's current reasonable beliefs, expectations and assumptions regarding the Company's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions, relating to, among others, the general economic conditions and the political, permitting, regulatory and legal environment in which the Company operates.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company does not undertake and disclaims any intent or obligation to update publicly, re-issue, or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required in accordance with applicable laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Kaymus Resources Inc.

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