TRANSFORMA ANNOUNCES VOTING RESULTS, NEW STOCK OPTION PLAN, CLOSING OF DEBT SETTLEMENTS AND CONTROL PERSON

Vancouver, June 13, 2023 (GLOBE NEWSWIRE) --

Not for distribution to United States newswire services or for dissemination in the United States

Transforma Resources Corporation (the "Company" or "Transforma") (TSX-V: TFM) is pleased to announce that all matters presented at its Annual General and Special Meeting held on June 9, 2023 were approved, including:

1. The election of the board of directors: Victor A. Jaramillo, Kelly Brent Funk, Carlos Lau, and Douglas Yee;
2. The new stock option plan for compliance with the policies of the TSX Venture Exchange; and
3. The debt settlement with Lee Ann Wolfin and creation of Lee Ann Wolfin as a control person of the Company.
   
   

The last two items were approved by a majority of the “disinterested shareholders” of the Company (i.e., excluding insiders, and their affiliates and associates).

As a result of the approval of the debt settlement, indebtedness of the Company in the aggregate sum of $764,840 owed to various creditors has been extinguished, by the issuance of 10,926,287 common shares. The extinguishment of the indebtedness and issuance of the shares were reflected in the Company’s financial statements for the year ended December 31, 2022.

About Transforma:

Transforma is a junior exploration company involved in a 100% owned project situated in southwestern British Columbia, consisting of the Thunder Copper Property, and now also holds the option to acquire the MAC nickel property in British Columbia.

For more information please contact Carlos Lau.

ON BEHALF OF THE BOARD OF DIRECTORS

Carlos Lau,
President and Chief Executive Officer
Phone: [phone]
E-Mail: [e-mail]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward looking statements: This release contains statements that are forward‐looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward‐looking statement.