1355379 B.C. Ltd. Announces Effective Date of Share Consolidation

Vancouver, British Columbia--(Newsfile Corp. - May 2, 2024) - 1355379 BC Ltd. (the "Company") announces that, further to its press release on April 25, 2024, the Company is proceeding with a consolidation (the "Consolidation") of its common shares ("Shares") on the basis of one (1) post-Consolidation Share for seven (7) pre-Consolidation Shares. As of the date hereof, the Company has 12,889,131 Shares issued and outstanding. Following completion of the Consolidation, the Company will have 1,841,305 Shares issued and outstanding.

No fractional Shares of the Company will be issued if, as a result of the Consolidation, a registered Shareholder would otherwise be entitled to a fractional Share. Instead, the Company will round any fractional Shares resulting from the Consolidation up to the nearest whole Share. The post-Consolidation Shares will be assigned the new CUSIP and ISIN numbers 682933205 and CA6829332056, respectively.

A letter of transmittal describing the process by which registered shareholders of the Company holding a certificate representing their Shares may obtain a new certificate representing post-Consolidation Shares will be mailed. Registered shareholders of the Company who do not hold a certificate will receive a direct registration statement representing their Shares.

The Consolidation will be effective on May 3, 2024. Pursuant to the Business Corporations Act (British Columbia) and the articles of the Company, shareholder approval of the Consolidation is not required.

The Consolidation is intended to increase the Company's flexibility and make the Company's securities more attractive to potential investors and other interested parties.

FOR FURTHER INFORMATION PLEASE CONTACT:

Anthony Paterson
1355379 B.C. Ltd.
Tel: (604) 910-1804
info@districtmines.com

Forward Looking Statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, that the Company will complete the Consolidation and that the Company will receive all required regulatory and exchange approvals. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement. Specific risks included that we may not obtain regulatory approval. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond our control. Accordingly, readers should not place undue reliance on forward-looking statements or information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis that is available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207871