1167343 B.C. Ltd. (CNSX:MLK) executed an arrangement agreement to spin-off mineral property assets on June 5, 2018. Pursuant to the arrangement agreement, 1167343 B.C. Ltd., will transfer to Spinco its existing mineral property assets in exchange for the issuance of common shares of Spinco (the “Spinco Shares”) to be distributed to Mountain Lake Minerals' shareholders by way of a plan of arrangement. Each Shareholder will sell and transfer all of its Reorganization Shares to Spinco for consideration consisting solely of Spinco Shares issued by Spinco, on the basis of one Spinco Share for each Reorganization Shares held. In connection with such sale and transfer: The spin-off will close immediately following the Placement and Transactions and Mountain Lake Minerals will contribute CAD 1 million to Spinco, raised pursuant to the Placement, for working capital. The Company will contribute CAD 1 million to 1167343 B.C. Ltd. for working capital. For each post-consolidation common share of Mountain Lake Minerals held on the record date for the spinout, which has not yet been determined, but will occur following the completion of the Transactions and Financing, a shareholder will receive one Spinco share. Spinco will apply for the listing of its common shares on a Canadian stock exchange. Completion of the spinout is subject to a number of conditions, including but not limited to receipt of all necessary regulatory approvals, including the approval of the CSE, completion of the consolidation (consolidation of Mountain Lake Mineral's existing common shares on a ten old for one new basis) and placement, the approval of Mountain Lake Minerals' shareholders as well as the B.C. Supreme Court and will be completed following the completion of the fundamental change transactions involving the acquisition of Cannabis Act applicant Go Green Medicinal Marijuana Ltd. MLK will seek the approval for the listing of the New Common Shares on the Exchange. The registered Shareholders are entitled to exercise rights of dissent in connection with the Arrangement with respect to their Shares. The spinout cannot close until the conditions are satisfied. Annual meeting of shareholders is scheduled to be held on July 26, 2019 to approve transaction. The spin-off were approved by the shareholders of Mountain Lake by a 99.9% margin on August 8, 2019. Additionally, Mountain Lake received the final approval from the B.C. Supreme Court at a hearing held on August 12, 2019. Record date for transaction is April 28, 2020. The shares of 1167343 B.C. Ltd. will not be listed on any exchange on the distribution date. Shauna L. Hartman of Armstrong Simpson acted as legal advisor for 1167343 B.C. Ltd. and 1167343 B.C. Ltd. Computershare Investor Services Inc. acted as depository for 1167343 B.C. Ltd. and 1167343 B.C. Ltd.

Pac Roots Cannabis Corp. completed the Spin-Off of 1167343 B.C. Ltd. on May 22, 2020. New name of 1167343 B.C. Ltd is 1167343 B.C. Ltd. The distribution date for the 1167343 B.C. Ltd shares will be May 27, 2020.