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EMX Closes the Royalty Portfolio Acquisition from SSR Mining

(MENAFN– Newsfile Corp) EMX Closes the Royalty Portfolio Acquisition from SSR Mining

Vancouver, British Columbia–(Newsfile Corp. – October 21, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the ” Company “, or ” EMX “) is pleased to announce that it has closed the acquisition of a portfolio of royalty interests and deferred payments (the ” Royalty Portfolio “) from SSR Mining Inc. and certain of its subsidiaries (” SSR Mining “) (see EMX news release dated July 29, 2021). The Royalty Portfolio consists of 16 geographically diverse royalties, with four royalty assets at advanced stages of project development, and includes U.S. $18 million in future cash payments to be made to the owner of the Royalty Portfolio (see Figure 1 and Table 1). EMX has paid U.S. $33 million in cash and issued 12,323,048 million common shares of the Company valued at U.S. $32.5 million to SSR Mining. EMX will also make deferred and contingent payments to SSR Mining of up to U.S. $34 million if certain project advancement milestones are achieved.

Together with other recent advancements in EMX’s global royalty portfolio and strengthening of cash flows across the Company’s operations, the SSR transaction represents a key step in EMX’s continued development as a leading royalty company.

The portfolio highlights include two royalties at Gediktepe in Turkey, which cover assets currently being developed by Lidya Madencilik Sanayi ve Ticaret A.Ş. (” Lidya “), a private Turkish company. These include a 10% NSR royalty on production from an oxide gold-silver deposit and a 2% NSR royalty on the underlying polymetallic volcanogenic massive sulfide (” VMS “) mineralization. Lidya expects that initial production from Gediktepe will commence in late 2021. The Royalty Portfolio also includes advanced stage project royalties at Yenipazar (Turkey) and Diablillos (Argentina) (see summaries below), with the remaining royalty interests covering both precious metal and base metal assets in South America, Mexico, the United States (Nevada), and Canada.

The number of royalties acquired by EMX was reduced from 18 (as originally contemplated) to 16, as the operator of two royalty properties in Mexico exercised rights of first refusal to acquire the royalties under the terms of their existing royalty agreements. The total consideration for those two properties was U.S. $530,000, which has been deducted as a purchase price adjustment from the share consideration that the Company has paid. The Company also entered into a Vendor-take-back note ( VTB Note ) with SSR Mining pursuant to which the Company has borrowed U.S. $7.8 million from SSR Mining. The proceeds of the VTB Note will be utilized to cover VAT liability which will arise upon completion of the acquisition of the Gediktepe royalties. The VAT will be recovered by the Company’s Turkish subsidiary holding the Gediktepe royalties over the next two to three years.

With the closing of the Royalty Portfolio acquisition, EMX continues to significantly strengthen its global portfolio of royalties. Gediktepe is one of several EMX royalty properties that are expected to commence commercial production during Q4, 2021. The others include the Timok development project in Serbia, where the Cukaru Peki high grade copper-gold deposit is being put into production by Zijin Mining Group Co. Ltd., and Balya North, a polymetallic Carbonate Replacement Deposit (“CRD”) in western Turkey being developed by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş., a private Turkish company. The Cukaru Peki royalty was acquired by EMX in 2013 shortly after discovery of the deposit, and Balya North is an organically generated EMX royalty.

EMX’s Leeville royalty in Nevada has delivered increased cash flows in recent months, with royalty production proceeds now being received from the Four Corners and Carlin East mining areas in addition to other areas on the royalty property. Together with cash flow already being received from its recently purchased Caserones copper-molybdenum royalty in Chile, EMX anticipates a significant increase in royalty revenue in 2022 from multiple assets that span four continents. See the EMX website ( ) for further project and portfolio details.

Commercial Terms Overview. EMX paid U.S. $33 million in cash and issued 12,323,048 million common shares to SSR Mining. The number of common shares issued by EMX to SSR Mining was based on the volume-weighted average price (” VWAP “) of the shares on the NYSE American stock exchange for the 20 days prior to the date of completion of the transaction (the ” Closing Date “). All such shares are subject to a hold period of four months and one day from the Closing Date. SSR Mining now owns an approximate 12% undiluted equity interest in EMX.

Additional deferred payments of up to U.S. $34 million may be made by EMX to SSR Mining in consideration for the Net Profits Interest (” NPI “) royalty on the Yenipazar property. These will be payable as follows: (i) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of construction of a mill or any other improvements to be used for the mining, handling, milling, beneficiation or other processing of certain mineral products on the Yenipazar property; (ii) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of commercial production at the Yenipazar property; (iii) U.S. $15,000,000 in cash, payable when EMX has received U.S. $10,000,000 in net profits interest payments under the Yenipazar NPI royalty; and (iv) U.S. $15,000,000 in cash, payable when EMX has received a second U.S. $10,000,000 in net profits interest royalty payments under the Yenipazar NPI royalty. All shares issued as consideration for the Yenipazar NPI interest will be subject to a hold period of four months and one day from the date of issue, and the issuance of such shares is subject to TSX Venture Exchange approval.

The VTB Note totals U.S. $7.85 million, bears interest at 10% per annum for the first 180 days, and will increase to 13% per annum thereafter. The VTB Note has a maturity date of December 31, 2022. The proceeds of the VTB Note have been utilized for the payment of VAT associated with the sale of the Gediktepe royalty. The VTB Note is unsecured and subordinated to the Sprott Credit Facility which was drawn to help fund the Company’s acquisition of the Caserones royalty. The Company will recover the VAT totaling U.S. $7.85 million over a two to three year period as royalty income is earned in Turkey.

Royalty Portfolio Overview. As summarized in Figure 1 and Table 1, the Royalty Portfolio spans approximately 68,000 hectares across seven countries on three continents. Summaries for Gediktepe, Yenipazar and Diablillos are provided here, and further information on the Royalty Portfolio and other EMX assets can be found at . Only the royalty over the Gediktepe property in Turkey is material to EMX at the present time. EMX is currently preparing a technical report on the Gediktepe property to be filed on SEDAR.

Gediktepe NSR Royalties, Western Turkey: Gediktepe comprises a polymetallic VMS system with precious metal, copper, and zinc rich domains. These include an upper-level oxide gold-silver deposit and an underlying polymetallic sulfide deposit.

The EMX Gediktepe royalties consist of: (i) a perpetual 10% NSR royalty over metals produced from the oxide gold-silver deposit after cumulative production of 10,000 gold-equivalent oxide ounces; and (ii) a perpetual 2% NSR royalty over metals produced from the sulfide zone (predominantly copper, zinc, lead, silver and gold), payable after cumulative production of 25,000 gold-equivalent sulfide ounces.

The Gediktepe property is the subject of an NI 43-101 Prefeasibility study entitled “Gediktepe 2019 Prefeasibility Study” prepared by OreWin Pty Ltd. on behalf of Alacer Gold Corp. with an effective date of Mar. 26, 2019 (the ” Gediktepe Report “). The Gediktepe Report is filed on SEDAR and contains historical mining reserve and resource estimates (summarized in Tables 2.1 and 2.2).

Yenipazar NPI Royalty, Central Turkey: The Yenipazar polymetallic VMS deposit is being advanced by Virtus Mining Ltd. (“Virtus”), a private Turkish company in which Trafigura Ventures V BV is a 30% interest holder. The Yenipazar deposit was discovered in the 1990’s and is the subject of a 2013 feasibility study authored on behalf of Aldridge Minerals Inc. This document is filed on SEDAR and contains historical mining reserve and resource estimates. Virtus recently updated the feasibility study for Yenipazar and is currently seeking project financing for development of the project.

EMX now retains an NPI royalty that is set at 6% until U.S. $165 million in revenues are received by the Company, after which the NPI converts to a 10% interest.

Diablillos NSR Royalty, Argentina. EMX controls a 1% NSR royalty on the Diablillos property, a deeply oxidized, high-sulfidation epithermal silver-gold deposit located in the mining friendly Province of Salta in the Argentine Puna region. Operator AbraSilver Resource Corp. (TSX-V: ABRA, ” AbraSilver “) has an option to acquire 100% of the Diablillos property, with one outstanding payment due to EMX on the earlier of the date on which commercial production occurs at Diablillos or July 31, 2025.

AbraSilver recently (September 2021) disclosed updated open pit constrained resource estimates for the Diablillos project’s Occulto deposit as[1]:

  • Measured and Indicated Resources of 41.193 million tonnes grading 68 g/t silver and 0.76 g/t gold, yielding 90.165 million ounces of contained silver and 1.002 million ounces of contained gold, and
  • Inferred Resources of 2.884 million tonnes grading 34 g/t silver and 0.70 g/t gold, yielding 3.181 million ounces of contained silver and 66 thousand ounces of contained gold.

This updated mineral resource represents a 37% increase in contained gold ounces and an 11% increase in contained silver from the previous historical resource estimate delineated in a Technical Report dated April 16, 2018. An updated Diablillos PEA is expected to be completed by AbraSilver in Q4 2021. AbraSilver continues to drill and explore multiple areas of mineralization on the property, and EMX sees excellent upside potential on the property.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, as well as on the Frankfurt exchange under the symbol “6E9”. Please see for more information.

About SSR Mining. SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666

Scott Close
Director of Investor Relations
Phone: (303) 973-8585

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding the amount and timing of royalty payments, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures and operating costs, timelines, strategic plans, market prices for and recoveries of precious and base metal, mine life and production rates, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: : failure of the counterparties to royalty agreements to make required payments, or to make such payments in a timely manner, unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at and on the SEC’s EDGAR website at .



Figure 1: Locations of assets in EMX’s Royalty Portfolio acquired from SSR Mining
To view an enhanced version of Figure 1, please visit:

Table 1: Assets included in the EMX Royalty Portfolio acquired from SSR Mining
Asset Location Royalty Operator Trading Symbol Metals
Advanced and Development Stage Assets
Gediktepe Oxide Turkey 10% NSR Lidya Madencilik Private Au-Ag
Gediktepe Sulfide Turkey 2% NSR Lidya Madencilik Private Cu-Zn-Au-Ag
Yenipazar Turkey 6% – 10% NPI Virtus Mining Private Au-Ag-Zn-Cu-Pb
Diablillos Argentina 1% NSR AbraSilver Resource TSX-V:ABRA Ag-Au
Resource Stage Assets
Berenguela Peru 1.00% – 1.25% NSR Aftermath Silver TSX-V:AAG Mn-Ag-Cu-Zn
Challacollo Chile 2% NSR Aftermath Silver TSX-V:AAG Ag-Au
San Marcial Mexico 0.75% NSR GR Silver TSX-V:GRSL Ag-Zn-Pb-Au
Tartan Lake Canada 2% NSR Satori Resources TSX.V:BUD Au
Exploration Stage Assets
Brooks Property U.S. 4% NSR Nevada Gold Mines Barrick Gold Corp and Newmont Corp J.V. Au
E&L Nickel Mountain Canada 1% NSR Garibaldi Resources TSX-V:GGI Ni-Cu
El Mogote Mexico 2% NSR Industrias Peñoles BMV(Mexico):PE&OLES Au-Ag
Hunter 1-12 Canada 2.5% NSR Cassiar Gold Corp TSX-V:GLDC Au
Juncal and La Flora Chile 1% NSR Austral Gold TSX-V:AGLD-ASX:AGD Ag-Pb-Zn-Cu
M18/Aguas Perdidas Argentina 1% NSR AbraSilver Resource TSX-V:ABRA Ag
San Agustin Sulfides Mexico 2% NSR Argonaut Gold TSX:AR Au
Silver Peak U.S. 1.5% NSR International Millennium TSX-V:MSC Ag-Au
Future Cash Payments (payable by operator to royalty holder)
Asset Location Payment Operator Timing/Trigger of Payment
Diablillos Argentina U.S. $7.00 million AbraSilver Resource Payable upon earlier of (i) commencement of commercial production or (ii) July 31, 2025
Berenguela Peru U.S. $2.25 million Aftermath Silver Payable upon First Anniversary of Initial Closing Date of Berenguela royalty agreement
Berenguela Peru U.S. $2.50 million Aftermath Silver Payable upon Second Anniversary of Initial Closing Date of Berenguela royalty agreement
Berenguela Peru U.S. $3.00 million Aftermath Silver Payable upon Fourth Anniversary of Initial Closing Date of Berenguela royalty agreement
Berenguela Peru U.S. $3.25 million Aftermath Silver Payable upon Final Closing Date of Berenguela royalty agreement (November 30, 2026)
Table 2.1 Historical mineral resources reported in the 2019 Gediktepe Prefeasibility Study
MEASURED Tonnes
(kt)
Grade Metal
Au
(g/t)
Ag
(g/t)
Cu
(%)
Zn
(%)
Pb
(%)
Au
(koz)
Ag
(koz)
Cu
(kt)
Zn
(kt)
Total Oxide
Total Sulphide 3,999 0.67 25.1 1.01 1.83 0.34 86 3,221 40 73
Total Measured 3,999 0.67 25.1 1.01 1.83 0.34 86 3,221 40 73
INDICATED
Total Oxide 2,674 2.71 66.3 0.10 0.10 0.47 233 5,703 3 3
Total Sulphide 23,544 0.74 27.6 0.85 1.69 0.33 560 20,865 200 399
Total Indicated 26,217 0.94 31.5 0.78 1.53 0.34 792 26,568 203 402
MEASURED + INDICATED
Total Oxide 2,674 2.71 66.3 0.10 0.10 0.47 233 5,703 3 3
Total Sulphide 27,542 0.73 27.2 0.87 1.71 0.33 645 24,086 241 472
Total Measured + Indicated 30,216 0.90 30.7 0.81 1.57 0.34 878 29,790 243 475
INFERRED
Total Oxide 23 0.95 21.8 0.23 0.14 0.12 1 16 0 0
Total Sulphide 2,958 0.53 20.2 0.76 1.16 0.27 51 1,926 22 34
Total Inferred 2,981 0.54 20.3 0.76 1.16 0.27 51 1,941 23 34

Notes:

  • Mineral Resources were reported according to CIM guidelines and definitions.
  • The Effective Date for the Mineral Resource estimates is March 5, 2019.
  • Mineral Resources were estimated within geologic domains by either ordinary kriging or inverse distance.
  • Mineral Resources were reported at NSR cut-offs of U.S. $20.72/t for oxide and U.S. $17.79/t for sulphide using the mineral reserve metal prices (see Table 2.2) x 1.14 (+14%) and variable metal recoveries according to material and mineralization type (refer to Gediktepe 2019 Prefeasibility Study for details).
  • The Mineral Resources have been constrained using an optimised pit shell to reflect reasonable prospects of economic extraction.
  • Mineral Resources that are not classified as Mineral Reserves do not have demonstrated economic viability.
  • Mineral Resources are inclusive of Mineral Reserves, except for mining losses and grade dilution, which were determined through re-blocking of the resource model after calculation of the Mineral Resources.
  • The Mineral Resources are quoted on a 100% project basis.
  • The foregoing are “Historical Estimates” within the meaning of NI 43-101. Source: Section 14 of the NI 43-101 pre-feasibility study technical report titled “Gediktepe 2019 Prefeasibility Study” prepared by OreWin Pty Ltd. and filed on SEDAR by Alacer with an effective date of March 26, 2019.

    A qualified person has not performed sufficient work to classify the historical resource estimates as current mineral resources, and EMX is not treating the historical estimates as current. Significant data compilation, confirmation drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current mineral resources. The historical resource estimates are considered to be reliable and relevant and are presented for the purpose of describing the extent and nature of mineralization as presently understood. The historical resource estimates should not be relied upon until verified.

    Table 2.2 Historical mineral reserves reported in the 2019 Gediktepe Prefeasibility Study
    Category Tonnage (kt) Grade Contained Metal
    Au
    (g/t)
    Ag
    (g/t)
    Cu
    (%)
    Zn
    (%)
    Au
    (koz)
    Ag
    (koz)
    Cu
    (kt)
    Zn
    (kt)
    Oxide
    Proven
    Probable 2,755 2.34 56.7 207 5,020
    Proven + Probable 2,755 2.34 56.7 207 5,020
    Sulfide
    Proven 3,620 0.68 26.7 1.03 1.93 79 3,105 37 70
    Probable 14,960 0.89 33.1 0.89 1.99 429 15,903 133 298
    Proven + Probable 18,580 0.85 31.8 0.92 1.98 509 19,008 170 368

    Notes:

  • Mineral Reserves were reported according to CIM guidelines and definitions.
  • The Effective Date for the Mineral Reserve estimates is March 5, 2019.
  • Mineral Reserves were reported using a NSR cut-off based on metal prices of $1,300/oz Au, $18.5/oz Ag, $3.30/lb Cu, and $1.28/lb Zn, smelter terms for treatment and refining charges and transport including ocean freight for sulphide ore concentrates.
  • The recovery factors used to calculate the Mineral Reserves vary according to material and mineralization type (refer to section 15 of the Gediktepe 2019 Prefeasibility Study for further details).
  • Cut-offs applied: oxide ore $20.67/t and sulphide ore $17.74/t. Additionally, enriched mineralisation with a Cu/Zn grade ratio < 0.75 is considered to be waste.
  • Metal prices used for economic analysis to demonstrate the Mineral Reserve are Au $1,315/oz, Ag $18.0/oz, Cu $3.20/lb and Zn $1.10/lb.
  • Reported Mineral Reserves incorporate and include designed open pit mining losses and grade dilution that are not reported in the Mineral Resource.
  • Only Measured Mineral Resources (and dilution) were used to report Proven Mineral Reserves and only Indicated Mineral Resources (and dilution) were used to report Probable Mineral Reserves.
  • Mineral Reserves are a subset of, not additive to, the Mineral Resources and are quoted on a 100% project basis.
  • All monetary figures are in USD.
  • The foregoing are “Historical Estimates” within the meaning of NI 43-101. Source: Section 15 of the NI 43-101 pre-feasibility study technical report titled “Gediktepe 2019 Prefeasibility Study” prepared by OreWin Pty Ltd. and filed on SEDAR by Alacer with an effective date of Mar. 26, 2019. For further details on other parameters utilized in the estimates, the reader is referred to Section 15 of the Gediktepe Report.

    A qualified person has not performed sufficient work to classify the historical reserve estimates as current mineral reserves, and EMX is not treating the historical estimates as current mineral reserves. Significant data compilation, confirmation drilling, re-sampling, data verification and updating of metal prices, engineering assumptions, and economic parameters may be required by a qualified person before the historical estimates can be classified as current. The historical reserve estimates are considered to be reliable and relevant, and are presented for informational purposes to describe the extent and nature of mineralization on the project as presently understood. The historical reserve estimates should not be relied upon until verified.

    [1] As reported in AbraSilver’s news release dated September 15, 2021, and with an effective date of September 8, 2021. The Occulto mineral resources were estimated by independent Qualified Person Ms. Munoz of Mining Plus Consultants, and reported to CIM Definition Standards (2014). The resources were estimated using Ordinary Kriging within wireframed mineralized zones and reported within an optimized open pit based upon a) updated metal prices of $1750/oz gold and $25/oz silver and b) costs and variably calculated recoveries from previous studies (refer to the 2018 Diablillos Project Technical Report for details). The mineral resources were reported within a Whittle pit shell at a cutoff of 35 g/t silver equivalent (AgEq g/t =Ag g/t + (Au g/t *70)).



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    Bengal Energy Ltd. Announces Legbar-1 Exploration Well Update

    (MENAFN– Newsfile Corp) Bengal Energy Ltd. Announces Legbar-1 Exploration Well Update

    Calgary, Alberta–(Newsfile Corp. – October 14, 2021) – Bengal Energy Ltd. (TSX: BNG) (” Bengal ” or the ” Company “) today announces that drilling of the Legbar-1 exploration well (the ” Legbar-1 Well “) operated by Bengal’s farm-in partner Santos QNT Pty Ltd (” Santos “) and located in a 420 square kilometers (104,000 acres) block (the ” Santos Farm-in Block “) in the southern portion of Authority to Prospect 934 (” ATP 934 “), has been completed. Data indicated that the Legbar-1 Well intersected good quality reservoir sands within the primary Permian Toolachee formation, however these sands contained insufficient levels of hydrocarbon pay for commercialization. Following a review of the well logs, Santos and Bengal have jointly decided to plug and abandon the well. The joint venture continues to remain focused on evaluating the Permian natural gas prospective potential of the Santos Farm-in Block, based on the learnings from the Legbar-1 Well.

    As previously announced, Santos paid 100% of the costs to drill, plug and abandon the Legbar-1 Well and has accordingly earned a 60% working interest in the Santos Farm-in Block and is operator. Bengal holds a 40% working interest in the Santos Farm-in Block and holds a 100% interest in the balance of ATP 934 and the surrounding Petroleum Leases PL 188, 411, 1109 and 1110, which are located within the Cooper Basin, Queensland, Australia.

    While the Legbar-1 Well did not indicate commercial quantities of hydrocarbons, thick, high quality reservoir sands were encountered in the primary Permian Toolachee formation with evidence of residual hydrocarbon saturation. In addition, good fluorescence shows and elevated gas readings through the Jurassic lower Birkhead Fm/Top Hutton Sandstone indicate oil has passed through the reservoir, supporting the search for a valid closure to test this play.

    The findings from the Legbar-1 Well will help Bengal refine its exploration targets going forward, both with Santos in the Santos Farm-in Block, and across the balance of ATP 934. Details of upcoming exploration and development activities within ATP 934 are expected to be announced in a subsequent update.

    About Bengal

    Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company is committed to growing shareholder value through international exploration, production and acquisitions. Bengal’s common shares trade on the Toronto Stock Exchange under the symbol “BNG”. Additional information is available at .

    CAUTIONARY STATEMENTS:

    Forward-Looking Statements

    This news release contains certain forward-looking statements or information (“forward-looking statements”) as defined by applicable securities laws that involve substantial known and unknown risks and uncertainties, many of which are beyond Bengal’s control. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words “plan”, “expect”, “future”, “project”, “intend”, “believe”, “should”, “could”, “anticipate”, “estimate”, “potential”, “continue”, “new”, “develop”, “current” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward looking statements. The projections, estimates and beliefs contained in such forward-looking statements are based on management’s estimates, opinions, and assumptions at the time the statements were made, including assumptions relating to: the impact of economic conditions in North America and Australia and globally; industry conditions; changes in laws and regulations including, without limitation, the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced; increased competition; the availability of qualified operating or management personnel; fluctuations in commodity prices, foreign exchange or interest rates; stock market volatility and fluctuation; results of exploration and testing activities, and the continued or anticipated performance of assets; and the ability to obtain required approvals and extensions from regulatory authorities. We believe the expectations reflected in the forward-looking statements contained herein are reasonable but, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Bengal will derive from them. As such, undue reliance should not be placed on forward-looking statements.

    In particular, forward-looking statements contained herein include, but are not limited to, statements regarding: the Company’s focus, plans, priorities and strategies; the Company’s position in the business environment, particularly in the Australian business environment; the Company’s development plans for ATP 934 and the expected update in respect of upcoming development activities within ATP 934; the potential indications coming out of the drilling of the Legbar-1 Well and the anticipated benefits of such to the Company; and the ability of third parties to perform their obligations under contracts and the expected benefit of such contracts and performance to the Company.

    The forward-looking statements contained herein are subject to numerous known and unknown risks and uncertainties that may cause Bengal’s actual performance or achievement in future periods to differ materially from those expressed in, or implied by, these forward-looking statements, including but not limited to, risks associated with: Bengal’s development and exploration opportunities; the economic conditions in North America and Australia; the impact of the COVID-19 pandemic and the ability of the Company to carry on its operations as currently contemplated in light of the COVID-19 pandemic; the failure to obtain required regulatory approvals or extensions; determinations by OPEC and other countries as to production levels; the failure to satisfy the conditions under farm-in and joint venture agreements, including the agreement with Santos and other third party contracts; the failure of third parties to performance their obligations under contracts with the Company; the failure to secure required equipment and personnel; increased competition; the availability of qualified operating or management personnel; fluctuations in commodity prices, foreign exchange or interest rates; changes in laws and regulations including, without limitation, the adoption of new environmental and tax laws and regulations and changes in how they are interpreted and enforced; the results of exploration and development drilling and related activities; the ability to access pipeline infrastructure; the ability to access sufficient capital from internal and external sources; and stock market volatility. The Company cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. Additional information on these and other factors that could affect the Company are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( ). The forward-looking statements contained in this news release speak only as of the date hereof and Bengal does not assume any obligation to publicly update or revise them to reflect new events or circumstances, except as may be require pursuant to applicable securities laws.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Bengal Energy Ltd.
    Chayan Chakrabarty, President & Chief Executive Officer
    Phone : (403) 205-2526
    Jerrad Blanchard, Chief Financial Officer
    Phone : (403) 781-7021
    Email:
    Website:



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    ALX Resources Corp. Completes Geochemical Survey at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

    (MENAFN– Newsfile Corp) ALX Resources Corp. Completes Geochemical Survey at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

    Vancouver, British Columbia–(Newsfile Corp. – October 14, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (“ALX” or the “Company”) is pleased to announce the completion of a geochemical survey at its 100%-owned Gibbons Creek Uranium Project (“Gibbons Creek”, or the “Project”). Gibbons Creek currently consists of seven mineral claims encompassing 13,864 hectares (34,259 acres), located along the northern margin of the Athabasca Basin immediately west of the community of Stony Rapids, Saskatchewan, in a region hosting multiple uranium occurrences.

    2021-2022 Exploration at Gibbons Creek

    In early October 2021, ALX commenced a Spatiotemporal Geochemical Hydrocarbons (“SGH”) soil geochemistry survey at Gibbons Creek. SGH is an analytical method developed by Actlabs of Ancaster, Ontario, Canada that is designed to detect subtle geochemical anomalies emanating from a buried source. Three hundred and twenty-one (321) samples were collected from a 4.4 kilometre-long grid over a strong, untested geophysical conductor detected from historical airborne electromagnetic surveys. Sample lines within the grid were spaced 200 metres apart and were narrowed to 100 metres over an interpreted cross-cutting fault structure. The results of the SGH survey are expected to provide valuable information for a permitted drilling program planned for the winter of 2022, following engagement with the local communities and First Nations in the Stony Rapids area.




    SGH Sampling on Gibbons Creek Grid

    To view an enhanced version of this graphic, please visit:

    To view maps and photos of Gibbons Creek click here

    About Gibbons Creek

    The Project is complemented by the infrastructure provided at Stony Rapids, SK, including all-weather Highway 905, a commercial airport, equipment rentals and supplies, as well as readily available accommodation, thereby providing high efficiencies for local exploration. Work by ALX and its predecessor company Lakeland Resources Ltd. produced the following indicators of uranium mineralization:

    • Prospecting in 2013 confirmed the presence of high-grade uranium-bearing boulders ranging up to 4.28% U3O8;
    • Radon surveys in 2015 detected an anomaly approximately 1,200 metres by 500 metres in size with peak radon values ranging between 4.00 picocuries per square metre per second (“pCi/m2/sec”) and 10.77 pCi/m2/sec at ten locations, which are among the highest recorded radon values in the Athabasca Basin;
    • Historical drill hole GC15-03 intersected 0.13% U3O8 over 0.23 metres, immediately below the sub-Athabasca unconformity;
    • Spectroscopic analysis of core samples from ALX’s 2015 drilling detected clay alteration products such as illite and sudoite (a unique form of chlorite associated with uranium mineralization) in the sandstone at or near the unconformity, which suggests that hydrothermal alteration has occurred in the vicinity of the drill hole;
    • Geophysical conductors defined by a 2017 airborne ZTEM survey remain to be tested.

    In February 2021, ALX received an exploration permit for Gibbons Creek, good to October 2022, which allows for a 5,000-metre drilling program in up to 20 holes along with ground-based geophysics, prospecting and geochemical sampling. Access to the Project is year-round, thereby creating a flexibility for either summer or winter exploration programs. Several geophysical conductors at the Project identified by airborne and ground geophysics have not yet been drill tested.

    National Instrument 43-101 Disclosure

    The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo., a Director of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Geochemical results for surface samples collected by ALX in 2020 were analyzed at the Saskatchewan Research Council in Saskatoon, SK by Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Gold, platinum and palladium were analyzed by fire assay techniques.

    Historical geochemical results and geological descriptions quoted in this news release were taken directly from assessment work filings and summary reports published by the Government of Saskatchewan. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by its Qualified Person, but create a scientific basis for ongoing work in the Gibbons Creek area. Management further cautions that past results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on ALX’s mineral properties.

    About ALX

    ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol “AL,” on the Frankfurt Stock Exchange under the symbol “6LLN” and in the United States OTC market under the symbol “ALXEF.”

    ALX’s mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 250,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

    ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project , located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and 100% interests in the Gibbons Creek Uranium Project , the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects .

    ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

    For more information about the Company, please visit the ALX corporate website at or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368 , or by email:

    On Behalf of the Board of Directors of ALX Resources Corp.

    “Warren Stanyer”

    Warren Stanyer, CEO and Chairman

    FORWARD-LOOKING STATEMENTS

    Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: the Gibbons Creek Project (“Gibbons Creek”) is prospective for uranium, gold, and PGE mineralization; the Company’s plans to undertake exploration activities at Gibbons Creek, and expend funds on Gibbons Creek. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration at Gibbons Creek, including drilling; our initial findings at Gibbons Creek may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at Gibbons Creek; and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company’s operations, markets, products and share price. Even if we explore and develop Gibbons Creek, and even if uranium or other metals or minerals are discovered in quantity, the project may not be commercially viable. Additional risk factors are discussed in the Company’s Management Discussion and Analysis for the Six Months Ended June 30, 2021, which is available under the Company’s SEDAR profile at . Except as required by law, we will not update these forward-looking statement risk factors.

    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

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    Western Exploration and Crystal Peak Minerals Provide Update on Previously-Announced RTO Transaction, Including $6 Million Subscription Receipt Financing

    (MENAFN– Newsfile Corp) Western Exploration and Crystal Peak Minerals Provide Update on Previously-Announced RTO Transaction, Including $6 Million Subscription Receipt Financing

    Toronto, Ontario–(Newsfile Corp. – October 12, 2021) – Western Exploration LLC (” Western “) and Crystal Peak Minerals Inc. (TSXV: CPM.H) (OTC: CPMMF) (” Crystal “) (together, the ” Parties “) are pleased to provide an update, further to their joint news release dated February 19, 2021, on their previously-announced transaction that would result in Western completing a “reverse take-over” (under the policies of the TSX Venture Exchange) (the ” RTO “) of Crystal by way of a plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia).

    Subscription Receipt Financing

    Crystal is pleased to announce that it anticipates closing, on October 13, 2021, a brokered private placement of 2,248,936 subscription receipts of Crystal (” Subscription Receipts “) at a price of $2.65 per Subscription Receipt, for aggregate gross proceeds of approximately $6 million (the ” Offering “). The Offering is being led by Canaccord Genuity Corp. (” Canaccord “) and Stifel Nicolaus Canada Inc., as co-lead agents, and Cormark Securities Inc. (collectively, the ” Agents “).

    The Subscription Receipts will be governed by the terms of a subscription receipt agreement (the ” Subscription Receipt Agreement “) to be entered into among Crystal, Canaccord (on behalf of the Agents), and TSX Trust Company (the ” Subscription Receipt Agent “), as subscription receipt agent. Each Subscription Receipt will entitle the holder thereof to receive, upon satisfaction of the Escrow Release Conditions (as defined below) and without the payment of any additional consideration, one unit of Crystal (each, a ” Unit “), with each Unit comprised of one (1) Post-Consolidation Crystal Share (as defined below), and one (1) share purchase warrant of Crystal (each, a ” Warrant “). Each Warrant will entitle the holder thereof to acquire one additional Post-Consolidation Crystal Share (each, a ” Warrant Share “), at an exercise price of $3.975 per Warrant Share at any time during the period ending 24 months following the closing of the Offering. As used herein, ” Post-Consolidation Crystal Share ” means a common share of Crystal (each, a ” Crystal Share “), as constituted following the completion of a consolidation of the Crystal Shares to be undertaken in connection with the RTO, on the basis of a ratio of one (1) post-consolidation Crystal Share for each 363.30 pre-consolidation Crystal Shares.

    In connection with the Offering, Crystal is expected to pay the Agents a cash commission of approximately $265,145 (the ” Commission “), representing the aggregate of (i) a cash commission of 6% on proceeds of the Offering raised from purchasers not on a president’s list of Western (the ” President’s List “), and (ii) a cash commission of 3% on proceeds of the Offering raised from purchasers on the President’s List. In addition, Crystal is expected to issue to the Agents an aggregate of 89,957 broker warrants of Crystal (the ” Broker Warrants “), with each Broker Warrant entitling the holder thereof to acquire, following the satisfaction of the Escrow Release Conditions, one common share (each, a ” Resulting Issuer Share “) in the capital of the issuer resulting from the completion of the RTO (the ” Resulting Issuer “) at an exercise price of $3.05 per share, at any time prior to the date that is 12 months following the closing of the RTO.

    The gross proceeds of the Offering less 25% of the Commission and certain expenses of the Agents (such net amount, the ” Escrowed Proceeds “) will be deposited with the Subscription Receipt Agent on closing of the Offering, to be held in escrow pending satisfaction or waiver of certain conditions (collectively, the ” Escrow Release Conditions “) specified in the Subscription Receipt Agreement, including, without limitation, the completion or satisfaction of all conditions precedent to the RTO, substantially in accordance with the Arrangement Agreement (as defined herein, and as may be further amended from time to time), to the satisfaction of Canaccord, acting reasonably. Provided that the Escrow Release Conditions are satisfied or waived (where permitted) prior to 5:00 p.m. (Toronto time) on January 11, 2022 (the ” Escrow Release Deadline “), the remaining 75% of the Commission (and any interest earned thereon) and certain expenses of the Agents will be released to the Agents from the Escrowed Proceeds, and the balance of the Escrowed Proceeds (together with interest earned thereon) will be released to Crystal. However, in the event that the Escrow Release Conditions are not satisfied by the Escrow Release Deadline, the proceeds of the Offering will be returned to the holders of the Subscription Receipts and the Subscription Receipts will be cancelled.

    The Parties have obtained the conditional approval of the TSX Venture Exchange (the ” TSXV “) for completing the Offering for aggregate gross proceeds of up to $11.5 million, and may close one or more additional tranches of the Offering, depending on market demand.

    The net proceeds from the Offering, together with any cash on hand of Western, is expected to be available to the Resulting Issuer following the completion of the RTO for (i) the recommended Phase 1 exploration program for both Wood Gulch-Gravel Creek and Doby George budgeted at US$2.84 million, as described in the updated technical report for the Aura Project, (ii) other exploration and development work planned at the Aura Project (as defined below), and (iii) general working capital purposes.

    The issue price of $2.65 per Subscription Receipt pursuant to the Offering remains subject to the approval of the disinterested shareholders of Crystal at the meeting of shareholders expected to be held by Crystal in connection with the RTO, in December 2021.

    Amendment to Arrangement Agreement

    On February 19, 2021, the Parties entered into an arrangement agreement in respect of the RTO (the ” Arrangement Agreement “), as amended on July 12, 2021 to (i) extend the completion deadline of the RTO to October 29, 2021, and (ii) amend the basis of consolidation of the Crystal Shares to a ratio of one (1) post-consolidation Crystal Share for each 363.30 pre-consolidation Crystal Shares.

    Earlier today, the Parties entered into a second amending agreement to the Arrangement Agreement to, among other things, further extend the completion deadline of the RTO to January 31, 2022.

    The extension provides the Parties with additional time to obtain the various court, shareholder and regulatory approvals required to complete the RTO, including the approval of the TSXV, and complete any required pre-closing reorganizations and transaction structuring matters. Subject to the receipt of all required approvals, and the timely satisfaction (or waiver, where permitted) of all closing conditions for the RTO, the Parties anticipate that the RTO will close in late December 2021.

    Please see the joint news release of the Parties dated February 19, 2021 for additional information about the RTO. Full particulars of the RTO will be described in a Form 3D1 (Information Required in an Information Circular for a Reverse Takeover or Change of Business)(the ” Information Circular “) to be filed, in due course, on SEDAR ( ) under Crystal’s issuer profile.

    Selected Financial Information

    The following table sets out certain selected financial information regarding Western. The selected information was prepared in accordance with International Financial Reporting Standards.

    (as at December 31, 2018) (as at December 31, 2019) (as at December 31, 2020) (as at June 30, 2021)
    (unaudited)
    Current Assets $ 126,735 $ 538,974 $ 1,096,982 $ 267,028
    Total Assets $ 8,664,434 $ 9.000,629 $ 9,862,134 $ 11,270,426
    Current Liabilities $ 1,038,646 $ 1,528,478 $ 1,568,242 $ 2,191,313
    Total Liabilities $ 1,283,508 $ 1,887,911 $ 1,969,782 $ 2,693,238
    Shareholders’ Equity (Deficiency) $ (42,552,345 ) $ (44,188,994 ) $ (51,409,367 ) $ (63,487,460 )

    About Western Exploration LLC

    Western is a private company organized under the laws of the State of Nevada. Western has been engaged in the acquisition, exploration and development of precious metals mineral properties in Nevada since its inception in 1997. Its principal asset is the Aura gold silver project (the ” Aura Project “) located in Elko County, Nevada approximately 120 kilometers north of the city of Elko, Nevada.

    No work has been done on the Aura Project subsequent to the joint news release of the Parties dated February 19, 2021 in respect of the RTO.

    Western’s head office is located at 121 Woodland Avenue, Suite 140, Reno, NV 89523.

    For further information, please contact Western Exploration LLC:

    Darcy Marud
    President
    Tel. 775-329-8119

    About Crystal Peak Minerals Inc.

    Crystal is a public company organized under the laws of the Yukon Territory, whose shares are listed for trading on the NEX board of the TSXV. Crystal was previously engaged in the acquisition, exploration and development of a sulfate of potash project in the United States, but currently does not have an active business, and is investigating new business opportunities.

    Crystal’s head office is located at 10808 South River Front Parkway, Suite 343, South Jordan, Utah, 84095.

    For further information, please contact Crystal Peak Minerals Inc.:

    Woods Silleroy
    Vice President Operations & Corporate Secretary
    Tel. (801) 984-3350

    Cautionary Statements

    Completion of the RTO is subject to a number of conditions, including but not limited to, the acceptance of the TSXV and the receipt of the various court, shareholder, and regulatory approvals, and the RTO cannot close until such approvals have been obtained. Accordingly, there can be no assurance that the RTO will be completed as proposed, or at all.

    Investors are cautioned that, except as disclosed in the Information Circular to be prepared and filed in connection with the RTO, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon.

    This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction, nor will there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ” U.S. Securities Act “) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    The TSXV has in no way passed upon the merits of the proposed RTO. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    Forward-Looking Statements

    This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively ” forward-looking statements “). All statements contained in this news release that are not statements of historical fact should be considered forward-looking statements. Forward looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Specifically, forward-looking statements in this news release include but are not limited to, statements related to the RTO and the Offering (including, without limitation, (i) the timing of the completion of the Offering and the RTO, (ii) the anticipated use of the net proceeds of the Offering, (iii) the satisfaction or waiver of the Escrow Release Conditions and the payment of the Commission, and (iv) the conversion of the Subscription Receipts). Forward-looking statements reflect the current views and intentions of the management of the Parties with respect to future events based on current information available to management of the Parties, and are necessarily subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Such risks and uncertainties include, without limitation, (i) general business, economic, competitive, political and social uncertainties, (ii) delay or failure to receive any necessary board, shareholder or regulatory approvals (including, the approval of the TSXV), for the completion of the RTO, (iii) the risk that an applicable regulatory authority may not approve the RTO on the terms proposed, or at all, (iv) the risk that the Escrow Release Conditions may not be satisfied prior to the Escrow Release Deadline, (v) the occurrence of unanticipated events and factors which impede or prevent the Parties’ respective future business plans, and (vi) such other factors beyond the control of the Parties (including, such those set out in Crystal’s public disclosure documents available on SEDAR ( ) under Crystal’s issuer profile). Readers are cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Escrow Release Conditions will be satisfied in accordance with its terms and on or prior to the Escrow Release Deadline, (ii) all applicable board, shareholder and regulatory approvals for the RTO will be secured in a timely manner, (iii) the RTO will be completed on the terms agreed upon by the parties in the Arrangement Agreement, within the timeframe anticipated by the Parties, (iv) the terms and conditions of the RTO will not change substantially, based on the receipt of further tax, corporate and securities law advice for each of the Parties, and (v) there will not be any unanticipated changes in laws or delays), although considered reasonable by management of the Parties at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. Should any such risk factor affect any of the Parties in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur.

    The forward-looking statements included in this news release are made as of the date of this news release and neither Crystal nor Western undertakes any obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

    Not for Distribution to United States Newswire Services or for Dissemination in the United States





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    Couche-Tard To Buyback $300 Million Of Shares From Company Founder

    (MENAFN– Baystreet.ca)
    Couche-Tard To Buyback $300 Million Of Shares From Company Founder

    Retailer Couche-Tard is buying back millions of company shares from a corporation controlled by its founder and executive chairman Alain Bouchard.

    The Canadian convenience store operator announced in a news release that it’s repurchasing 6.35 million Class B shares from Développements Orano for $47.23 each, a total of approximately $300 million.

    That price represents a 2% discount from Couche-Tard’s current share price on the Toronto Stock Exchange.

    Couche-Tard said the transaction was reviewed and recommended by a special committee comprised of its independent directors, with input from external legal and financial advisers.

    The deal sees Bouchard’s voting stake reduced to 35.1% from 35.3%. Couche-Tard noted in its news release that Bouchard has indicated he has no intent of selling additional shares at this time.

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    Vancouver-Based CFO Joins Ambitious Bitcoin Venture Launched by UK Entrepreneur

    (MENAFN– Newsfile Corp) Vancouver-Based CFO Joins Ambitious Bitcoin Venture Launched by UK Entrepreneur

    Vancouver, British Columbia–(Newsfile Corp. – October 7, 2021) – Mine One Blockchain Inc. announces an exciting new Bitcoin venture launched by a UK entrepreneur has appointed an experienced financier to drive forward its ambitious growth plans.

    A Canadian-based company launched by UK-based businessman Alex Lineton, has ambitions of floating a Bitcoin business on the Toronto Stock Exchange after investing $500,000 in a Canadian mining venture.

    Mine One Blockchain has already been successful in raising capital despite its infancy – and now hopes the appointment of Vancouver-based Mat Lee as its new CFO will ramp up their plans.




    Vancouver-based Mat Lee has been appointed CFO of Mine One Blockchain Inc, a Bitcoin venture launched by UK entrepreneur Alex Lineton.

    To view an enhanced version of this graphic, please visit:

    Mr. Lee is a chartered accountant with more than 13 years’ experience in audit, finance, public company financial reporting and operations management.

    “I’m extremely excited to be involved,” said Mr. Lee. “The management team Alex is putting together is quite talented.”

    “I like the fact we’ve already had some initial success in raising capital and we have a good line of clean energy.”

    “It seems everyone is set on doing things correctly and by the book, which for me is very important.”

    Before setting up his own CFO services, specialising in the mining and technology sectors, Mr. Lee previously held the position of financial controller at a private real estate investment firm that operates two funds with combined assets under management of $140m in Canada and the US.

    Prior to that, he was operations manager for Canada’s largest independent investment dealer, Raymond James, also based in Vancouver, with revenues in excess of $300m and assets under administration in excess of $33 billion.

    Mine One Blockchain CEO Alex Lineton said: “The reason we wanted Mat on board is because he has a fantastic reputation in the region.”

    “We’re trying to build this company properly from the ground up. We’re not trying to skim on anything.”

    “So to get Mat on board is a massive feather in our cap and speaks volumes about the potential of the venture, and the confidence he has in what we’re building.”

    “He was someone we targeted from the start. Sets a precedent and a standard of what we’re trying to do.”

    Bitcoin mining, which is growing hugely in the US, is performed by high-powered computers that solve complex computational math problems, with miners using increasingly complex machinery to speed up mining operations and ‘mint’ Bitcoins.

    But there’s a worldwide shortage of Bitcoin miners after China shut down mining operations earlier this year.

    Canada – which is the world’s fourth-highest producer of hydro power – currently has 8% spare hydro energy capacity.

    And with Bitcoin mining demanding huge amounts of energy, Mr. Lineton has acquired spare, carbon neutral hydro capacity in Canada to run a sophisticated Bitcoin mining operation.

    Mr. Lee said: “There are some companies operating across the border in Washington to gain access to cheap energy. Having said that, I don’t think there are many using clean energy in this way, which is why I’m excited to be involved.”

    “Bitcoin can be polarising. There are some demographics who don’t quite get it. But there are many who do and love it. It promotes decentralised finance. There’s still a lot of education surrounding cryptocurrency, but that education should be straight forward when the time comes.”

    “Bitcoin will continue to grow as more businesses, customers and vendors accept it as a formal currency.”

    “The market price can be fairly volatile, but the general day-to-day use of Bitcoin will continue its trend for the foreseeable future.”

    “The structure and the low cost of operations of Mine One Blockchain will speak well to the market. I’m happy to be involved with the company and I’m looking forward to working with the team.”

    With two recent increases in its value jumping from the level of $29,000 on July 20 to a high of over $54,000 in October, Mr. Lineton says the combination of Canada’s spare power capacity together with the growing price of Bitcoin convinced him to target Vancouver.

    Contact:



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    Neptune Wellness Appoints Jessica Adkins as Senior Vice President, Corporate Communications

    (MENAFN– PR Newswire)
    LAVAL, QC, Oct. 6, 2021 /PRNewswire/ – Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT ) (TSX: NEPT), a diversified and fully integrated health and wellness company focused on plant-based, sustainable and purpose-driven lifestyle brands, today announced the appointment of Jessica Adkins as Senior Vice President, Corporate Communications. Ms. Adkins brings deep expertise in leading external and internal communications programs across public and private food & beverage and CPG companies.

    Michael Cammarata, President and Chief Executive Officer of Neptune Wellness, said, “We are excited for Jessica to drive a best-in-class communications strategy to ensure Neptune’s growth story is echoed throughout the industry. She has successfully developed and executed on numerous impactful communications campaigns to drive engagement and improve corporate reputation for industry-leading companies.”

    Prior to joining Neptune Wellness, Ms. Adkins built and oversaw the Company Affairs team at Amy’s Kitchen, leading external and internal communications, employer brand and community engagement for the organic food manufacturer. She also held multiple roles with increasing responsibility at Anheuser-Busch InBev, including leading many of the strategic communications efforts during the integration and combination with SABMiller and later serving as Head of Communications and Better World for APAC South. Ms. Adkins began her career at Grayling, a Public Affairs consultancy, providing strategic advice and facilitating stakeholder engagement for CPG clients navigating the European Union. She holds an MBA from Columbia University in New York, a Master’s Degree from ISMaPP (Higher Institute for Political & Public Management) in Belgium and a Bachelor’s Degree from Davidson College in North Carolina.

    About Neptune Wellness Solutions Inc.

    Headquartered in Laval, Quebec, Neptune is a diversified health and wellness company with a mission to redefine health and wellness. Neptune is focused on building a portfolio of high quality, affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The Company utilizes a highly flexible, cost-efficient manufacturing and supply chain infrastructure that can be scaled to quickly adapt to consumer demand and bring new products to market through its mass retail partners and e-commerce channels. For additional information, please visit: .

    Disclaimer – Safe Harbor Forward–Looking Statements

    Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Neptune Wellness Solutions to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.

    Neither NASDAQ nor the Toronto Stock Exchange accepts responsibility for the adequacy or accuracy of this release.

    SOURCE Neptune Wellness Solutions Inc.

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    TriStar to Hold Prefeasibility Study Webinar

    (MENAFN– Newsfile Corp) TriStar to Hold Prefeasibility Study Webinar

    Scottsdale, Arizona–(Newsfile Corp. – October 5, 2021) – TriStar Gold (TSXV: TSG) (OTCQX: TSGZF) is pleased to announce that Nick Appleyard will be presenting an overview of the Castelo de Sonhos prefeasibility study in a live webinar taking place on Thursday, October 7th at 1pm PT / 4pm ET. The webinar will be hosted by Focus Communications Investor Relations (“FCIR”) and Cory Fleck of the Korelin Report. Participants are encouraged to submit any questions for the Company prior to the event by emailing FCIR at . To register for the webinar please click the link below:

    Date: Thursday, October 7th

    Time: 1pm PT / 4pm ET

    Registration:

    About TriStar

    TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company’s current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company’s shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF . Further information is available at .

    On behalf of the board of directors of the company:

    Nick Appleyard
    President and CEO

    For further information, please contact:

    TriStar Gold Inc.
    Nick Appleyard
    President and CEO
    480-794-1244

    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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    Forward-Looking Statements

    Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the “safe harbour” provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements in this press release include all estimates from the PFS such as the cash flow, IRR, NPVs, cash cost, AISC, initial capital, life of mine production, average annual production and payback period time. Such forward-looking statements are based upon the Company’s reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company’s plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company’s projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.



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    HIVE Blockchain Announces Appointment of Diana Biggs to HIVE Switzerland Board of Directors

    (MENAFN– Newsfile Corp) HIVE Blockchain Announces Appointment of Diana Biggs to HIVE Switzerland Board of Directors
    This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021

    Vancouver, British Columbia–(Newsfile Corp. – October 5, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the “Company” or “HIVE”) is pleased to announce that Diana Biggs, CEO of Valour Inc . (“Valour”) and incoming Chief Strategy Officer of DeFi Technologies , has joined the board of directors of HIVE Blockchain Switzerland AG (“HIVE Switzerland”). Diana will join recently appointed HIVE Sweden president and board member Johanna Thornblad on the board of HIVE Switzerland.




    Diana Biggs

    To view an enhanced version of this image, please visit:

    Diana is a seasoned executive who brings deep experience in digital assets, technology, and financial services. She is Associate Fellow with Saïd Business School, University of Oxford , where she guest lectures on digital assets and blockchain technology. Prior to joining Valour, she was Global Head of Innovation for HSBC Private Banking. Prior roles include VP, Head of Growth and Partnerships at Uphold, Chief Strategy Officer of Soko and Management Consultant with Oliver Wyman Financial Services.

    Diana is passionate about using technology for building inclusive and sustainable financial services through decentralized networks. She was appointed CEO of Valour, a division of DeFi Technologies in November 2020. Valour offers exchange-traded products that allow investors to take concentrated positions in defi project tokens through a traditional brokerage account, with low or no management fees.

    Valour currently offers ETNs in Europe that allow investors to gain exposure to digital assets including Solana (SOL), Cardano (ADA), Ethereum (ETH), Polkadot (DOT), and Bitcoin (BTC). In September Valour surpassed $200M USD in assets under management, up 2,000% in 2021.

    HIVE’s Strategic Investment in DeFi Technologies

    In April of 2021, HIVE completed a share swap transaction with DeFi Technologies, giving HIVE approximately 5% ownership of DeFi Technologies in exchange for approximately 1% of HIVE shares.

    HIVE Executive Chairman Frank Holmes welcomed Diana to the HIVE Switzerland board, saying, “We’re thrilled to have Diana on board. She brings deep DeFi experience to the table and will be instrumental in helping to guide our future efforts in this exciting space.”

    Diana echoed Frank’s sentiment, saying, “I’m excited to further our partnership with HIVE, while working closely with Johanna on future opportunities in the DeFi space.”

    About HIVE Blockchain Technologies Ltd.

    HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.

    HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.

    We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.

    For more information and to register to HIVE’s mailing list, please visit . Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel .

    On Behalf of HIVE Blockchain Technologies Ltd.
    “Frank Holmes”
    Executive Chairman

    For further information please contact:
    Frank Holmes
    Tel: (604) 664-1078

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

    Forward-Looking Information

    Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes, but is not limited to, business goals and objectives of the Company, and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

    Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company’s filings at and .

    The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. The Company has assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

    About Valour

    Valour Inc. issues exchange-listed financial products that enable retail and institutional investors to access investment in disruptive innovations, such as digital assets, in a simple and secure way. Established in 2019 and based in Zug, Switzerland, Valour is a wholly owned subsidiary of DeFi Technologies Inc. For more information on Valour, visit .

    About DeFi Technologies

    DeFi Technologies Inc. is a digital asset investment firm bridging the gap between traditional capital markets and decentralised finance. Our mission is to expand investor access to industry-leading decentralised technologies and the future of finance. We believe that decentralised technologies lie at the heart of financial innovation. On behalf of our shareholders and investors, we identify opportunities and areas of innovation, and build and invest in new technologies and ventures in order to provide diversified exposure across decentralized finance. As a trusted partner for our clients and investors, we provide industry-leading products and top-quality research and education in this fast-growing space. For more information visit .



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    WELL Health Completes Majority Stake Acquisition of WISP, a Rapidly Growing Digital Health Leader Specializing in Women's Health

    (MENAFN– PR Newswire)

    • Silicon Valley based WISP, Inc. (” WISP “) is a leading national provider of telehealth and e-pharmacy solutions specializing in Women’s Health, delivering solutions for female reproductive and sexual health ailments to patients across all 50 states in the US.
    • WELL’s US$41.3 million control investment in WISP was fully funded via a combination of US$27.7 million in cash from treasury, US$6.2 million in WELL common shares (issued at a price of $9.80/common share) and includes a multi-year performance earn-out up to a maximum of US$7.4 million.
    • WISP’s current annual revenue run-rate is approximately US$30 million and represents greater than 100% YoY organic growth. WISP has gross margins exceeding 65% and achieved positive EBITDA over the last few quarters. WELL’s cash investment and shared services support is anticipated to help the company significantly scale its growth over the coming quarters.

    VANCOUVER, BC, Oct. 1, 2021 /PRNewswire/ – WELL Health Technologies Corp. (TSX: WELL) (” WELL ” or the ” Company “), a company focused on empowering healthcare practitioners and their patients with best in class tech enabled healthcare services, is pleased to announce that it has completed the previously announced acquisition of a majority interest in WISP, a US technology leader and innovator in the delivery of quality virtual care and e-pharmacy experiences specializing in women’s health, for a total transaction value of approximately US$41.3 million, which includes a future conditional earn-out of up to approximately US$7.4 million (the ” Transaction “).

    Hamed Shahbazi, CEO and Founder of WELL commented, “Serving the rapidly growing women’s health market with the inclusive, dignified, accessible, high quality and patient centric level of care WISP provides, is directly in line with WELL’s purpose and we are very pleased to complete this transaction and work with management to help drive the next level of growth.”

    Matthew Swartz, CEO and Founder of WISP commented, “WELL has a compelling history of growth, innovation and serving the underserved, and we’re thrilled to be joining their family. We are humbled to be able to provide care to so many patients when they’ve needed support, and we’re excited to continue serving women and all humans, both in the US and internationally, as we grow.”

    Founded in 2018, WISP has created a national telehealth and e-pharmacy presence, serving all 50 of the US states. WISP has served 200,000 patients to date, and offers both telehealth medical consultations, as well as prescription and natural medications. By offering discrete, timely access to treatments for ailments such as yeast infections, UTI’s, herpes, and other ailments related to sexual health, WISP has created a strong relationship with its customers, resulting in greater than 50% returning/subscription revenue, and NPS scores of 79. WISP has experienced strong, profitable revenue growth, with its current annualized run-rate of approximately US$30 million(1), representing over 100% year-over-year organic revenue growth. WISP’s rapidly growing digital revenue strengthens WELL’s digital portfolio and organic growth profile.

    The combination of growing demand for e-pharmacy and virtual care services offers robust market tailwinds that the WISP platform is poised to benefit from. For instance, WISP operates in the online pharmacy industry that according to IBISWorld is anticipated to showcase 16% CAGR and reach over $60 billion on a global basis by 2025. Furthermore, telehealth services have seen a nearly 40x increase from pre-pandemic levels according to recent studies from McKinsey.

    Transaction Details:

    Under the terms of Transaction, the total consideration paid by WELL in connection with the Transaction equaled approximately US$41.3 million and consisted of the following: (i) approximately US$27.7 million was paid in cash on the closing date, subject to customary post closing adjustments and holdbacks; (ii) approximately US$6.2 million through the issuance of common shares in the capital of the Company (the ” Consideration Shares “) on the closing date at a deemed issue price per share of $9.80; and (iii) a multi-year performance-based earn-out of up to approximately US$7.4 million, which is determined based on the WISP business maintaining its revenue performance post-closing. The aggregate number of Consideration Shares issued at closing were subject to an adjustment that was inversely proportional to the difference in the fifteen trading day volume weighted average trading price (” VWAP “) of the Company’s common shares on the Toronto Stock Exchange (the ” TSX “) immediately prior to the closing date from the fifteen trading day VWAP immediately preceding the date of announcement of the Transaction (the ” Adjustment “). This Adjustment resulted in WELL issuing an aggregate of 830,797 common shares on the closing date, which are subject to certain volume based voluntary resale restrictions as provided under the terms of the Transaction.

    Effective as of the closing of the Transaction, WELL’s equity ownership in WISP equaled approximately 53% on a fully diluted basis. The original securityholders of WISP, which included the existing WISP senior management team, own the remaining balance of the shares of WISP and will continue to operate WISP on a post-closing basis. Pursuant to the terms of the Transaction, WELL acquired a call option to acquire the remaining shares of WISP it does not already own as part of the Transaction.

    D.A. Davidson served as WISP’s exclusive financial advisor and Goodwin Procter LLP acted as legal counsel to WISP. Dentons Canada LLP and Dentons US LLP acted as legal counsel to WELL.

    Footnotes:

    (1) Revenue run-rate based on August 2021 revenue annualized, according to previous announcement on September 2, 2021.

    WELL HEALTH TECHNOLOGIES CORP.

    Per: “Hamed Shahbazi” Hamed Shahbazi Chief Executive Officer, Chairman and Director

    About WELL Health Technologies Corp.

    WELL is a technology enabled healthcare company whose overarching objective is to positively impact health outcomes to empower and support healthcare practitioners and their patients. WELL has built an innovative practitioner enablement platform that includes comprehensive end to end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services. WELL uses this platform to power healthcare practitioners both inside and outside of WELL’s own omni-channel patient services offerings. As such, WELL owns and operates Canada’s largest network of outpatient medical clinics serving primary and specialized healthcare services and is the provider of a leading multi-national, multi-disciplinary telehealth offering. WELL is publicly traded on the Toronto Stock Exchange under the symbol ” WELL ” and is part of the TSX Composite Index. To learn more about the Company, please visit:  .

    About WISP

    Founded in 2018, WISP offers budget-friendly telehealth access for primary care, prescription medication and natural remedies to all humans regardless of health insurance. WISP specializes in female focused online reproduction and sexual health treatment. WISP offers an easier, more accessible, and more satisfying sexual healthcare experience to its customers. WISP began by offering discreet sexual health treatment and has grown to offer a comprehensive menu of online products and services, including prescription treatment, OTC prevention, primary care consultations, contraception delivery, and more, visit: .

    Notice Regarding Forward-Looking Statements:

    Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties, which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward looking statements in this news release include statements regarding the expectation that WISP is and will continue to be accretive to WELL; that WISP will continue to be a strong commercial business; that WISP has continued prospects for growth and that WISP will be able to continue servicing the same number of clients going forward. There are numerous risks and uncertainties that could cause actual results and WELL’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) adverse market conditions; (ii) risks inherent in the primary healthcare sector in general and other factors beyond the control of the Company. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

    SOURCE WELL Health Technologies Corp.

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