Relevant paragraph

After the completion of the Qualifying Transaction but prior to the issuance of any shares pursuant to the Proposed Financing as described below, an aggregate of 38,349,000 common shares of the Corporation will be issued and outstanding. The current shareholders of the Corporation will own 13,349,000 common shares (34.81%) while the Vendor will own 25,000,000 common shares (65.19%) of the Corporation. It is anticipated that, immediately upon closing, the Vendor will distribute these common shares by way of dividend to its shareholders. Consequently, Fancamp Exploration Ltd. (TSX-V: FNC) (Fancamp) will own 9,000,000 of the common shares (23.47%) of the Corporation after completion of the Qualifying Transaction but prior to completion of the Proposed Financing. In the event of the minimum Financing, the current shareholders of the Corporation will own 13,349,000 common shares (22.88%) of the Corporation after completion of the Qualifying Transaction, while Fancamp will own 9,000,000 common shares (15.42%) of the Corporation. In the event of the maximum Financing, the current shareholders of the Corporation will own 13,349,000 common shares (13.57%) after completion of the Qualifying Transaction, while Fancamp will own 9,000,000 common shares (9.15%) of the Corporation.

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