Newmac Resources Inc. ('Newmac' or the 'Company') (TSX-V: NER) announces that the TSX Venture Exchange (the 'Exchange') is transferring the Company's listing of its common shares to NEX.

The reason for this transfer of listing is due to the Company failing to satisfy its continuing listing requirements for a Tier 2 resource issuer.

The Company's shares have been halted since May 11, 2021 when the Company announced a proposed acquisition by SignalChem Lifesciences Corp. ('SignalChem'). On December 12, 2022, the Company announced that SignalChem had terminated the proposed transaction. Because the SignalChem transaction is not proceeding, and because the Company does not meet the Exchange's continuing listing requirements for a Tier 2 Resource Issuer, the Company's common shares shall resume trading on the NEX. The Company has filed a legal action against SignalChem in connection with SignalChem's termination of the proposed transaction. At this time, the legal action is proceeding. The Company has no further update on the status of this legal action. The Company has not held an annual general meeting since 2020. The Company expects to hold an annual general meeting within four months of its common shares resuming trading on NEX.

Contact:

Valent Chan

CFO

Tel: 778.288.3252.

(C) 2024 Electronic News Publishing, source ENP Newswire