The TSX Venture Exchange has accepted for filing documentation with respect to the arm's-length sale of 400 million common shares of Persistence Resources Corp., a 70.5-per-cent-owned subsidiary of the company, pursuant to a private placement of Persistence shares at a price of $1.18 (Hong Kong) (approximately 21 Canadian cents) per share for gross proceeds of $472-million (Hong Kong) (approximately $85.2-million (Canadian)). As a result of the share issuance, the company's ownership in Persistence is reduced from 70.5 per cent to 58.8 per cent.

In connection with the private placement, Persistence paid aggregate cash commissions of $5,244,719 (Hong Kong) (approximately $947,000 (Canadian)).

For further details, please refer to the company's news releases dated Sept. 25, 2025, and Oct. 15, 2025.