Alchemist Mining Inc. (CNSX:AMS) entered into an amalgamation agreement to acquire LiTHos Technologies Corp. for CAD 6 million on March 6, 2023. LiTHos shareholder will receive their pro rata portion of an aggregate of 15,000,000 common shares in the capital of Alchemist Mining Inc., at a deemed price of CAD 0.30 per Share. On Closing, holders of the LiTHos Securities who receive Shares in exchange for the LiTHos Securities will be subject to a voluntary escrow with such Shares to be released as follows: (a) 10% of the Shares released on Closing; and (b) 15% of the Shares released every six (6) months thereafter. It is expected that prior to the completion of the Amalgamation, LiTHos will continue out of the jurisdiction of the Province of Alberta under the provisions Business Corporations Act (Alberta) into the jurisdiction of the Province of British Columbia under the provisions of the Business Corporations Act (British Columbia). LiTHos reported total assets of CAD 0.27 million, shareholder's equity of CAD 0.09 million and cash of CAD 0.001 million as of January 31, 2023.

Completion of the Transaction remains subject to a number of conditions, including satisfactory due diligence, LiTHos’ total liabilities not exceeding CAD 1,160,000 (including the amount of the Bridge Loan) on the day of the Closing, receipt of all requisite regulatory, shareholder and third party consents, waivers and approvals for the Continuation and the Closing, as applicable, if applicable, and other conditions customary for transactions of this nature. The Amalgamation Agreement includes a completion deadline of June 30, 2023.