Mr. Tim Man-Tin Ng reports

PEPCAP COMPLETES SHARES FOR DEBT TRANSACTION

Further to Pepcap Resources Inc.'s news release dated Oct. 26, 2023, in which it was announced that the company has approved a debt settlement in the amount of $122,395 through the issuance of 815,966 common shares of the company at a deemed price of 15 cents per share, the company has amended the debt settlement amount from $122,395 to the amended amount of $119,888. Pursuant to the amended debt settlement, the company has issued 799,253 common shares of the company at a deemed price of 15 cents per share for an aggregate value of $119,888.

All securities issued in the aforementioned will be subject to a four-month hold period expiring May 31, 2024.

This news release amends and replaces the news release regarding the same subject matter announced on Jan. 30, 2024.