2674443 Ontario Inc. entered into a share purchase agreement to acquire 11% stake in Pacific Iron Ore Corporation for CAD 0.03 million on May 6, 2020. 2674443 Ontario will acquire 0.8 million common shares of Pacific Iron Ore at a purchase price of CAD 0.035 per share. 2674443 Ontario’s controlling shareholder, Binyomin Posen owns approximately 1.38% stake in Pacific Iron Ore and on completion of this transaction, Binyomin Posen along with 2674443 Ontario will hold a combined stake of approximately 52.34% in Pacific Iron Ore. In a related transaction, 2674443 Ontario acquired 40% stake in Pacific Iron Ore from Resurgent Capital Corp. on May 6, 2020. The combined deal value for all the shares acquired by 2674443 Ontario is CAD 0.13 million. The transaction is expected to be completed by May 11, 2020.