File: Attachment Pepcap NR (MCTO Default Notice) Feb 13 2025.pdf

February 13, 2025 Trading Symbol: "WAV.H: TSX.V

PEPCAP PROVIDES UPDATES ON THE STATUS OF MCTO (DEFAULT ANNOUNCEMENT)

VANCOUVER, B.C. Pepcap Resources, Inc. (TSXV:WAV.H) (the "Company") provides an update with respect to the previously announced Management Cease Trade Order (the "MCTO") issued by the British Columbia Securities Commission on January 29, 2025. The Company is providing notice in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The MCTO was issued by the BCSC on January 29, 2025. It prevents the Company's Officers, Board and Insiders from trading in the Company's securities but does not affect the ability of other shareholders, including the public, to trade in the securities of the Company.

The Company confirms that as of today, the preparation of the audited annual financial statements for the year ended September 30, 2024, along with the management's discussion and analysis and related CEO and CFO certificates (the "2025 Filings ") for the period which were required to be filed on or before January 28, 2025, are near completion.

As previously stated, subject to current conditions remaining the same, the Company remains confident in its ability to complete the 2025 Filings within the next month and will make its best efforts to complete the process within the timeline indicated.

The MCTO remains in effect until the Company files the 2025 Filings and the BCSC's Executive Director has revoked the MCTO. The Company confirms that since the date of the Default Announcement, other than as described above: (a) there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reports in the form of news releases for so long as it remains delayed.

PEPCAP RESOURCES, INC.

Per:_ "Richard C. King Jr." Richard C. King Jr., CEO

For further information, please contact: For further information: Richard C. King Jr. Phone: +1 (502) 345-0966 Email: richardckingjr@icloud.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.