ALX Uranium Corp. Closes Fully-Subscribed $1.525 Million Private Placement

Vancouver, British Columbia–(Newsfile Corp. – May 31, 2019) – ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) (“ALX” or the “Company”) is pleased to announce the closing on May 31, 2019 of a fully-subscribed, non-brokered private placement consisting of 13,000,000 non-flow-through units (the “NFT Units”) and 13,500,000 flow-through units (“FT Units”) of the Company for gross proceeds of $1,525,000 (the “Offering”).

The 13,000,000 NFT Units were sold at a price of $0.055 per NFT Unit, consisting of one common share and one common share purchase warrant. The FT Units were sold at a price of $0.06 per FT Unit consisting of one flow-through common share and one non flow-through common share purchase warrant. One common share purchase warrant from either the NFT Units or the FT Units will entitle the holder to purchase one non flow-through common share of the Company at a price of $0.10 for a period expiring 24 months following the closing date of the Offering.

Finder’s fees consisting of a total of $89,801 cash and 1,560,780 finder’s warrants (finder’s warrants are exercisable at a price of $0.06 for one common share of the Company for a period of two years from closing) were paid to: Dundee Goodman Merchant Partners – $86,903 cash and 1,512,480 finder’s warrants; PI Financial Corp. – $1,080 cash and 18,000 finder’s warrants; Raymond James Ltd. – $1,080 cash and 18,000 finder’s warrants; Haywood Securities Inc. – $432 cash and 7,200 finder’s warrants; Leede Jones Gable Inc. – $306 and 5,100 finder’s warrants.

All the securities issued in the Offering are subject to a hold period of four months plus one day from the closing date.

The proceeds from the sale of FT Units will be used for exploration programs on the Company’s Saskatchewan uranium properties, and the proceeds from the sale of NFT Units will be used for general working capital.

About ALX

ALX’s mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada, a superior mining jurisdiction. The Company executes well-designed exploration programs using the latest available technologies and has interests in over 200,000 hectares in Saskatchewan, a Province which hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates strong potential for economic base metals deposits. 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”. Technical reports are available on SEDAR at www.sedar.com for several of the Company’s active properties.

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

On Behalf of the Board of Directors of ALX Uranium 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. 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 economic, competitive, governmental, environmental and technological factors that may affect the Company’s operations, markets, products and prices. Additional risk factors are discussed in the Company’s Management Discussion and Analysis for the Three Months ended March 31, 2019, which is available under Company’s SEDAR profile at www.sedar.com. 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45212

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Wilton Resources Inc. Announces Private Placement Financing

Calgary, Alberta–(Newsfile Corp. – May 31, 2019) – Wilton Resources Inc. (TSXV: WIL) (the “Corporation”) is pleased to announce that it intends to issue, by way of non-brokered private placement, 1,500,000 common shares in the capital of the of the Corporation (“Common Shares“) at a purchase price of $0.30 per Common Share (the “Offering Price“) for gross proceeds of a minimum of $450,000 (the “Offering“). The principal use of the proceeds of the Offering will be for general corporate purposes and as a reserve to fund the acquisition of an international oil and gas property.

The Corporation will not pay finders fees on the Offering. The Corporation expects the Closing Date to be during the week of June 3, 2019.

Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV“). The TSXV has not approved the Offering Price and the Offering Price remains subject to the change. The Common Shares issued in connection with the Offering will be subject to a statutory hold period of four months plus one day from the date of completion of the Offering, in accordance with applicable securities legislation.

For more information concerning the Corporation, please refer to the Corporation’s profile on the SEDAR website at www.sedar.com.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “intend”, “may”, “will”, “expect”, and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the anticipated Closing Date, the receipt of regulatory approvals (including TSXV approvals) and the timing thereof, statutory hold periods and the principal uses of the proceeds of the Offering. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material facts and assumptions include obtaining approval of the TSXV of the proposed Offering; the availability of certain prospectus exemptions in respect of the Offering; and the intended use of proceeds remaining in the best interests of the Corporation. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

For more information, please contact:

Wilton Resources Inc.

Richard Anderson
Chief Executive Officer and President
(403) 619-6609

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

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws.

THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS. THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45214

Kapa Capital Inc. Announces Extension of LOI with PSI International Inc.

West Vancouver, British Columbia–(Newsfile Corp. – May 31, 2019) – Kapa Capital Inc. (TSXV: KAPA.P) (“Kapa” or the “Company“) is pleased to announce that it has entered into an extension agreement in respect of the previously announced binding letter of intent (the “LOI“) dated November 29, 2018 with PSI International Inc. The term of the LOI has been extended to September 30, 2019.

Trading in Kapa’s shares has been halted, and the halt is expected to remain in place until the proposed transaction is completed.

ON BEHALF OF THE BOARD

Kapa Capital Inc.

Charalambos (Harry) Katevatis
President, Chief Executive Officer and Director

For further information contact:
Charalambos (Harry) Katevatis
President, Chief Executive Officer and Director of Kapa Capital Inc.
604 836-6667

Statements in this press release regarding Kapa which are not historical facts are “forward-looking statements” that involve risks and uncertainties, such as the completion of the proposed Qualifying Transaction. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason.

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45213

Spyder Cannabis Announces Completion of Qualifying Transaction

Toronto, Ontario–(Newsfile Corp. – May 31, 2019) – Spyder Cannabis Inc. (formerly, Anchor Capital Corporation) (TSXV: SPDR) (“Spyder” or the “Corporation“), is pleased to announce that it completed its previously announced qualifying transaction (the “Qualifying Transaction“) with Spyder Vapes Inc. (“Private Spyder“).

As a part of the Qualifying Transaction, Private Spyder amalgamated with 11304372 Canada Inc. (“AcquisitionCo“), a wholly-owned subsidiary of Anchor Capital Corporation (“Anchor“) formed solely for the purpose of facilitating the three-cornered amalgamation (the “Amalgamation“) in connection with the Qualifying Transaction. In accordance with the terms of the Amalgamation, Anchor purchased all of the issued and outstanding common shares of Private Spyder (each, a “Private Spyder Share“) on the basis of one (1) common share in the capital of Anchor (each, a “New Spyder Share“) for each one (1) Private Spyder Share outstanding immediately prior to the Amalgamation. In addition, Anchor, as the resulting issuer, also changed its name from “Anchor Capital Corporation” to “Spyder Cannabis Inc.”

Upon closing of the Amalgamation, the Corporation has 39,938,375 New Spyder Shares issued and outstanding and 5,230,561 New Spyder Shares reserved for issuance. The New Spyder Shares reserved for issuance include 1,379,161 warrants and 3,851,400 stock options. Further, following closing of the Amalgamation, (i) the former shareholders of Private Spyder own approximately 88.7% of the issued and outstanding New Spyder Shares, (ii) the principals of Private Spyder collectively hold 12,644,986 New Spyder Shares and 1,400,000 stock options, all of which are subject to a Tier 2 Surplus Security Escrow Agreement pursuant to the policies of the TSX Venture Exchange (the “Exchange“), and (iii) 2,300,000 New Spyder Shares held by non-principals of Private Spyder are subject to a Tier 2 Value Security Escrow Agreement.

Following closing of the Amalgamation, all unexercised Private Spyder Share purchase warrants (each, a “Spyder Warrant“), including Spyder Warrants issued pursuant to the Concurrent Financing (as described below), all unexercised stock options entitling holders thereof to acquire Private Spyder Shares (“Spyder Options“), and all Spyder Warrants issued to a certain finder in connection with a non-brokered private placement completed by Private Spyder in late 2018 (“Private Spyder Finder Warrants“), cease to represent a right to acquire Private Spyder Shares and instead provide the right to acquire New Spyder Shares

Concurrent Financing

Private Spyder completed its non-brokered concurrent financing of secured convertible debentures (the “Concurrent Financing“) with the Qualifying Transaction, raising gross proceeds of $274,500 through the sale of secured convertible debentures convertible into an aggregate of 1,830,000 units of Private Spyder (each a “Unit“) at a price of $0.15 per Unit. Each Unit consists of one (1) Private Spyder Share and one-half (1/2) of one Spyder Warrant, with each whole Spyder Warrant entitling the holder thereof to purchase one (1) Private Spyder Share at an exercise price of $0.30 per share for a period of 24 months from the date of issuance.

In connection with the Concurrent Financing, a registered finder received a cash fee of $1,600 and 10,667 Spyder Warrants (each, a “Finder Warrant“). Each Finder Warrant is exercisable at a price of $0.15 into one (1) Unit, for a period of two years following closing.

Directors and Officers

In connection with the Qualifying Transaction, certain directors and officers of Anchor resigned and were appointed, such that the directors and officers of the Resulting Issuer are now as follows:

Daniel Pelchovitz – Director and Chief Executive Officer

Mark Pelchovitz – Director, Chief Financial Officer, and Corporate Secretary

Steven Glaser – Director

Brandon Kou – Director

Michael Lerner – Director

Change of Auditor

In connection with the Qualifying Transaction, it is expected that the auditor of the Resulting Issuer will change from MNP LLP to Wasserman Ramsay LLP.

Final Exchange Bulletin

Anchor received conditional approval for the Qualifying Transaction from the Exchange on April 23, 2019 and has delivered all documentation to the Exchange required to satisfy its listing conditions. Upon issuance of the final bulletin of the Exchange providing final acceptance of the Qualifying Transaction, Spyder will recommence trading as a Tier 2 Industrial Issuer on the Exchange. Trading in the common shares of Anchor on the Exchange is expected to resume at open of markets on or around the first week of June 2019 under the symbol “SPDR”.

Early Warning Disclosure

In connection with the Qualifying Transaction, Ari Toderovitz of Toronto, Ontario, has acquired 1,200,000 New Spyder Shares, which, together with 3,016,833 New Spyder Shares acquired by 2432692 Ontario Inc. (“243 Corp.“), a corporation wholly-owned by Mr. Toderovitz and therefore a joint actor, represents approximately 10.6% of the issued and outstanding New Spyder Shares on a non-diluted basis. Further, assuming full exercise of 83,333 New Spyder Share purchase warrants held by 243 Corp. and 600,000 stock options to purchase New Spyder Share held by Mr. Toderovitz, Mr. Toderovitz holds, together with 243 Corp., 4,900,166 New Spyder Shares (12.3% of the issued and outstanding shares on a partially diluted basis). Prior to the Qualifying Transaction, Mr. Toderovitz did not beneficially own, or exercise control or direction over, any securities of Spyder. Mr. Toderovitz and 243 Corp. acquired these securities for investment purposes and may, from time to time, acquire additional securities of the Corporation or dispose of such securities as Mr. Toderovitz or 243 Corp., as applicable, may deem appropriate.

In connection with the Qualifying Transaction, Saimi Pelchovitz of Richmond Hill, Ontario, has acquired 8,191,589 New Spyder Shares, which represents approximately 20.5% of the issued and outstanding New Spyder Shares on a non-diluted basis. Prior to the Qualifying Transaction, Ms. Pelchovitz did not beneficially own, or exercise control or direction over, any securities of Spyder. Ms. Pelchovitz acquired these securities for investment purposes and may, from time to time, acquire additional securities of the Corporation or dispose of such securities as Ms. Pelchovitz may deem appropriate.

Copies of the respective early warning reports that will be filed by Mr. Toderovitz and Ms. Pelchovitz may be obtained on the Corporation’s SEDAR profile or by contacting the Corporation at via e-mail at dan@spydervapes.com.

Select Financial Information

The following table presents selected historical financial data of Private Spyder for the periods indicated. The financial figures contained in this press release are based on the unaudited financial statements for the period ended October 31, 2018, and the audited financial statements for the years ended January 31, 2018 and January 31, 2017. All amounts are stated in Canadian dollars unless otherwise indicated.

Nine Months Ended October
31, 2018

(unaudited)
Year ended January 31,
2018

(audited)
Year ended January 31,
2017

(audited)
Total Revenues $710,713 $739,527 $782,600
Income (Loss) from Continuing Operations $(256,185) ($376,465) $(42,950)
Net Income (Loss) $(256,185) $(361,925) $(42,950)
Total Assets $446,903 $437,650 $213,623
Total Long-Term liabilities $675,502 $529,050 $23,676
Cash Dividends declared $0 $0 $0

 

Further Information

For further information relating to the Corporation, Private Spyder and the Qualifying Transaction, please refer to the Filing Statement filed in connection with the Qualifying Transaction, available under the Corporation’s SEDAR profile at www.sedar.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.

Cautionary Statements

The selected historical financial information presented in this press release has been prepared in accordance with International Financial Reporting Standards. Readers of this press release are cautioned to not place undue reliance on this preliminary financial information, and should read such preliminary financial information in conjunction with the financial statements that are included in the Filing Statement filed in connection with the Qualifying Transaction.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the issuance of the final Exchange bulletin and commencement of trading of the resulting issuer. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: changes in tax laws, general economic and business conditions; and changes in regulation. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward- looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This press 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.

For further information, please contact:

Dan Pelchovitz, President and Chief Executive Officer, Spyder Cannabis Inc.
Telephone: (905) 265-8273
Email: dan@spydervapes.com

Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45211

Ethos Gold Announces Private Placement

Vancouver, British Columbia–(Newsfile Corp. – May 31, 2019) – Ethos Gold Corp. (TSXV: ECC) (“Ethos” or the “Company“) is pleased to announce a non-brokered private placement to raise gross proceeds of $225,000 (the “Offering”). The Company will issue 1,125,000 units (each a “Unit”) at a purchase price of $0.20 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share of the Company at a purchase price of $0.40 per share for a period of two years from the date of the closing of the Offering.

Dr. Quinton Hennigh will be subscribing to the Offering. As announced in the Company’s May 17, 2019 press release, Dr. Hennigh joined Ethos as a technical advisor to oversee the Company’s drill campaign to test a Carlin-type gold target at Iron Point, 22 miles east of Winnemucca, Nevada. Stated Craig Roberts, P.Eng., President and CEO of Ethos: “We are very pleased to have Dr. Hennigh on board as a shareholder of Ethos and we look forward to working with him in drill testing the Carlin-type gold target at Iron Point. We anticipate announcing the date for commencement of drilling at Iron Point shortly.”

The proceeds of the Offering will be used the Company’s exploration projects and for general working capital. The Offering is subject to the acceptance of the TSX Venture Exchange (the “Exchange”), and securities issued in the Offering will be subject to a 4-month hold period. No finder’s fees are payable in respect of the Offering.

Ethos also announces that it has granted, under its Share Option Plan, incentive stock options to certain directors, officers and consultants of the Company to purchase an aggregate of up to 600,000 common shares exercisable for a period of up to five years from the date of grant at a price of $0.20 per share. This grant is subject to acceptance by the TSX Venture Exchange.

About Ethos Gold

Ethos Gold is exploring the La Purisima gold project (earning 100%) in Chihuahua Mexico, the Iron Point Carlin gold project (earning 50% from Victory Metals Inc.) 22 miles east of Winnemucca, Nevada, and the Perk-Rocky copper-gold porphyry project (earning 100%), 220 km west of Williams Lake, British Columbia. La Purisima is a near surface, bulk tonnage, oxide gold target, and a maiden drill program will commence shortly. Iron Point is a Lower Plate hosted Carlin style gold target, and a planned program of three vertical holes to test this target will commence shortly under the supervision of Dr. Quinton Hennigh. Perk-Rocky is a copper-gold porphyry target, and an exploration program including detailed airborne geophysics and ground mapping and sampling will commence shortly. Ethos also owns approximately 8% of the equity of Carlin Type Holdings Ltd., a private company earning into 100% ownership of three Nevada exploration projects, including two deep Carlin type targets (Carlin East and Selena). Ethos is also earning into the Pine Pass and Ursula vanadium projects (100% earn-in) in north-central British Columbia. In March 2019 Ethos received notice from the Province of British Columbia that the mineral tenures making up its Pine Pass vanadium project are included in an area under consideration for an immediate moratorium on development proposals and possible inclusion in an expanded environmental protected area, and Ethos is now waiting on the resolution of this issue before finalizing plans for further work.

Ethos currently has cash of approximately C$6.5 million and 54.8 million shares issued.

For additional information please contact Tom Martin at E: tmartin@ethosgold.com P: 1-250-516-2455 or view the Company’s website, www.ethosgold.com and the Company’s SEDAR profile at www.sedar.com.

Ethos Gold Corp.

Per: “Craig Roberts”
Craig Roberts, P.Eng., President & CEO

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.

Forward-Looking Statement Cautions:

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to, among other things, the Company’s plan to undertake the Offering and the contemplated use of the proceeds. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45208

Millennial Files Technical Report with Measured and Indicated Resource Estimate of 4.12 Million Tonnes LCE at Pastos Grandes Project, Argentina

Vancouver, British Columbia–(Newsfile Corp. – May 31, 2019) – Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) (“Millennial” or the “Company”) is pleased to announce the filing of a technical report (the “Resource Report”) titled “Phase III Measured, Indicated and Inferred Lithium and Potassium Resource Estimate Pastos Grandes Project Salta Province, Argentina” dated effective May 31, 2019 that contains an updated resource estimate for the Company’s Pastos Grandes lithium brine project located in Salta, Argentina.

Millennial engaged Montgomery & Associates Consultores Limitada (“Montgomery”) based in Santiago, Chile, a subsidiary of international hydrogeology firm E.L. Montgomery & Associates, to prepare the independent Resource Report.

The updated resource estimate contained in the Resource Report was first disclosed by the Company in a news release dated April 17, 2019.

The Resource Report advances the Company’s understanding of the Pastos Grandes Project and was a necessary step in completing a feasibility study (the “Feasibility Study”) which will evaluate the economics of the Pastos Grandes Project. This Feasibility Study, which is being completed by WorleyParsons, is anticipated to be completed shortly in July, 2019.

The resource statement contained in the Resource Report, detailed in the table below, includes 4,120,000 tonnes of lithium carbonate (“Li2CO3“) equivalent (LCE) and 15,342,000 tonnes of potash (“KCl”) equivalent in the Measured and Indicated Resource categories, with an additional 798,000 tonnes of Li2CO3 and 2,973,000 tonnes KCl in the Inferred Resource category.

Phase II
Resource
Category
Brine
Volume
(m3)
Avg. Li
(mg/l)
In situ Li
(tonnes)*
Li2CO3
Equivalent

(tonnes*)
Avg. K
(mg/l)
In situ K
(tonnes)*
KCl
Equivalent
(tonnes)*
Measured 9.5E+08 446 425,000 2,262,000 4,734 4,508,000 8,597,000
Indicated 8.6E+08 406 349,000 1,858,000 4,114 3,537,000 6,745,000
M+I 1.8E+09 427 774,000 4,120,000 4,440 8,045,000 15,342,000
Inferred 3.5E+08 428 150,000 798,000 4,457 1,559,000 2,973,000

*Cut-off grade for brine used to calculate the resource was 300 milligrams per liter
**Tonnages are rounded to the nearest thousand
***The reader is cautioned that mineral resources are not mineral reserves and do not have demonstrated economic viability.
****Li Equivalency: each tonne of Li is equivalent to 5.3228 tonnes of Li
2CO3
*****K Equivalency: each tonne of K is equivalent to 1.907 tonnes of KCl

In the April 17, 2019 news release, the 4,120,000 tonnes of lithium carbonate equivalent above was incorrectly stated (with the “1” missing) to be 4,200,000 tonnes.

The technical report is available for review on SEDAR at www.sedar.com under the Company’s profile and on the Company website at www.millenniallithium.com.

The Company also wishes to announce that it will not, at this time, be working with NetworkNewsWire as previously announced in its news release dated March 20, 2019. NetworkNewsWire is a provider of corporate communications and other services to clients including to a number of Canadian listed issuers.

This news release and the scientific and technical disclosure contained in it has been prepared under the supervision of Mike Rosko, CPG, SME Registered Number 4064687, a Qualified Person as that term is defined in National Instrument 43-101.

To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.

MILLENNIAL LITHIUM CORP.

“Farhad Abasov”

President and CEO, Director

MILLENNIAL LITHIUM CORP.
1177 West Hastings Street
Suite. 2000
Vancouver, BC Canada V6E 2K3
Tel: (604) 662-8184
Fax: (604) 602-1606
E-Mail: info@millenniallithium.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.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses, the reliability of third party information, continued access to mineral properties or infrastructure, changes in laws, rules and regulations in Argentina which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties, export policies or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45206

Forbes Andersen LLP Early Warning Press Release

Toronto, Ontario–(Newsfile Corp. – May 31, 2019) – Forbes Andersen LLP (the “Acquiror“) has filed an early warning report (the “Early Warning Report“) advising of its acquisition of subordinate voting shares (the “SV Shares“) of Bhang Inc. (the “Company“).

On May 24, 2019, the Company filed Articles of Amendment consolidating the Company’s common shares (“Common Shares“) on a 1:10 basis and re-designating the Common Shares as SV Shares. The Company also completed a debt settlement transaction, whereby SV Shares were issued as partial consideration to creditors in satisfaction of outstanding debt (the “Debt Settlement Transaction“). Pursuant to the Debt Settlement Transaction the Company issued 194,360 SV Shares (the “Debt Settlement Shares“) to the Acquiror, at a deemed price of $0.50 per SV Share as partial payment of debt in the amount of $97,180.00 owed by the Company to the Acquiror. In total, the Company issued an aggregate of 950,000 Debt Settlement Shares under the Debt Settlement Transaction, including the 194,360 SV Shares issued to the Acquiror, with the balance of the other Debt Settlement Shares issued to other creditors of the Company.

Prior to the acquisition of Debt Settlement Shares, the Acquiror held 296,146 Common Shares of the Company, representing approximately 8.2% of the then issued and outstanding Common Shares of the Company. As a result of the Debt Settlement Transaction, the Acquiror holds a total of 490,506 SV Shares, on a post-consolidation basis, representing approximately 10.7% of the Company’s issued and outstanding SV Shares.

This news release is being issued as required by National Instrument 62-104 – Take-Over Bids and Issuer Bids . A copy of the Early Warning Report can be obtained at www.sedar.com under the Company’s profile.

For further information, please contact:

Paul Andersen, Partner
Forbes Andersen LLP
Telephone: 416-947-0464

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45205