Gitennes Exploration Inc. (TSXV:GIT) entered into a purchase agreement to acquire 100% interest in Nickel and Rare Earth Element properties located in the Sept Iles area of Quebec for CAD 0.2 million on May 23, 2023. As consideration for acquiring a 100% interest in the Properties, the Company has issued as consideration to the Sellers an aggregate of 8 million units. Each Unit is comprised of one common share in the capital of Gitennes and one nontransferable share purchase warrant.

Each Warrant entitles the Sellers to acquire one additional common share in the capital of Gitennes at an exercise price of CAD 0.15 for a period of thirty-six months and Gitennes has granted to the Sellers an aggregate 2% net smelter return royalty ) with Gitennes being granted a buyback of 1% of the NSR at any time for CAD 1 million. The acquisition of the Properties is subject to TSX Venture Exchange approval and the Units will be subject to a statutory four month and one day hold period under applicable securities laws from the Closing Date. As of June 15, 2023, Gitennes Exploration Inc. has received TSX Venture Exchange approval for the proposed acquisition of a 100% undivided interest in the Sept Iles Nickel and Rare Earth Element properties located in the Sept Iles region, Quebec.