The TSX Venture Exchange has accepted for filing the documentation relating to a share purchase agreement dated June 16, 2023, between an arm's-length party and Maritime Resources Corp. Pursuant to the agreement, the company has agreed to purchase all of the shares of Point Rousse Mining Inc., which owns all of the property, assets, mineral rights, royalties and liabilities underlying the Point Rousse project, located in the province of Newfoundland and Labrador, Canada.

As consideration for the acquisition of Point Rousse, the company has agreed to issue a total of 23,970,218 common shares in the capital of the company to the vendor at deemed price of 4.172 cents per share and pay $3-million in cash to the vendor at closing.

For further information, please refer to the company's news release dated June 19, 2023.