1095474 B.C. Ltd. Acquires Additional Shares of BC Moly Ltd.

Vancouver, British Columbia–(Newsfile Corp. – January 6, 2022) – Mr. Edward Yurkowski (“Yurkowski“) announced today that 1095474 B.C. Ltd. (“109 BC Ltd.“), a company which is controlled by him, has acquired 19,740,754 common shares (the “Common Shares“) of BC Moly Ltd. (the “Company“) pursuant to an agreement to settle an aggregate of $1,110,417.39 of indebtedness owed by the Company to 109 BC Ltd. at a deemed price of $0.05625 per Common Share (the “Debt Settlement“).

Prior to the closing of the Debt Settlement, Yurkowski beneficially owned or exercised control or direction over 4,565,156 Common Shares of the Company, representing approximately 51.66% of the Common Shares then issued and outstanding. After the closing of the Debt Settlement, Yurkowski beneficially owns or exercises control or direction over an aggregate of 24,305,910 Common Shares of the Company, representing approximately 85.05% of the outstanding Common Shares of the Company.

The Common Shares issued to 109 BC Ltd. in connection with the Debt Settlement were issued pursuant to applicable exemptions from Canadian prospectus requirements. 109 BC Ltd. has granted an option to purchase the Common Shares issued pursuant to the Debt Settlement to an arm’s length group of purchasers (the “Optionees“) for a purchase price of $467,365.37 (the “Option“) in accordance with the terms of a definitive agreement between 109 BC Ltd., Yurkowski Joint Partner Trust and an arm’s length third party (the “Definitive Agreement“). The Option will be exercisable for an aggregate exercise price of $1.00 commencing on the date that is four months plus one day following the closing of the transactions contemplated by the Definitive Agreement.

In connection with the Option, 109 BC Ltd. has granted a power of attorney appointing the applicable Optionee as the true lawful attorney for 109 BC Ltd., and in the name, place and stead of 109 BC Ltd. to: (i) vote at and to execute and deliver any and all proxies for the Common Shares subject to the Option relating to any meeting of shareholders of the Company, or any adjournment thereof in respect of the matters arising in the course of business and requiring approval of the shareholders of the Company; and (ii) to execute on behalf of 109 BC Ltd. with respect to the Common Shares subject to the Option, any written resolution to be executed by the shareholders of the Company.

In addition to the Option, pursuant to the Definitive Agreement, 109 BC Ltd. and the Yurkowski Trust have agreed to sell an aggregate of 4,465,156 Common Shares to an arm’s length group of purchasers for an aggregate purchase price of $232,639 on the basis of a purchase price of approximately $0.0521 per Common Share.

Depending on his evaluation of the business prospects and financial condition of the Company, general economic and market conditions and other factors, Yurkowski may from time to time increase or decrease his beneficial ownership of shares of the Company, by private agreement or otherwise.

Additional information will be provided in the early warning report filed by 109 BC Ltd. on www.sedar.com under the Company’s profile.

For further information or a copy of the early warning report, contact Edward Yurkowski at (604) 833-2006 or [email protected].

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109220