J2 Metals Inc. entered into a non-binding letter of intent to acquire Cranstown Capital Corp. (TSXV:CRAN.P) in a reverse merger transaction on March 21, 2024. Under the transaction, CRAN will acquire all of the issued and outstanding securities of J2 by way of a share exchange, amalgamation or such other form of business combination as the parties may determine. Pursuant to the Proposed Transaction, CRAN will issue common shares in the capital of CRAN to the holders of common shares in the capital of J2 on the basis one CRAN Share for each one J2 Share issued and outstanding on closing. Upon the completion of the transaction, it is expected that J2 will become a wholly owned subsidiary of CRAN. Upon successful completion of the transaction, it is anticipated that CRAN will be listed as a Tier 2 Mining issuer on the TSXV and will carry on the business of J2. CRAN intends to change its name to ?J2 Metals Inc.? or such other name as J2 may determine. Upon completion of the transaction, the officers and directors of the Resulting Issuer are expected to include Thomas Lamb as Chief Executive Officer and Director; Toby Pierce, and Chris Beltgens as Directors; and Giuseppe (Pino) Perone as Corporate Secretary.

The transaction is subject to a number of terms and conditions, including, but not limited to, the parties entering into a definitive agreement with respect to the transaction on or before April 15, 2024, and the approval of the TSXV and other applicable regulatory authorities. It is not currently anticipated that the parties will complete any concurrent financing in association with the transaction.