Mr. Robert Giustra reports

SHELLRON PROVIDES UPDATE

Following a resumption review and the termination of Shellron Capital Ltd.'s previously announced transaction with SPX Management Ltd. (see press release dated Jan. 28, 2026), the common shares of the company will resume trading on the TSX Venture Exchange shortly.

Additionally, the company advises that, while its amending agreement dated Nov. 25, 2025 (see press release dated Nov. 27, 2025) contemplated a payment by SPX of a further non-refundable deposit of $25,000 on or before Jan. 6, 2026, this deposit was not paid and remains unpaid, which was a factor in the company's determination to terminate the transaction. The company anticipates that the deposit is uncollectable. There are no residual obligations or guarantees to or from the company in connection with the transaction.

We seek Safe Harbor.