Mr. Donald MacDonald reports

Further to its press release dated Aug. 15, 2023, ProAm Explorations Corp. has extinguished a debt of $12,500 owing to Chris Pederson, a key ProAm geologist, through the issuance of 250,000 common shares of the company to Mr. Pederson at a deemed value of five cents per common share.

The shares issued in connection with the debt settlement are subject to a regulatory hold period expiring on Jan. 29, 2024.