Green Shift Closes Previously Announced Sale of the Berlin Project, Colombia

TORONTO, April 09, 2024 (GLOBE NEWSWIRE) -- Green Shift Commodities Ltd. (TSXV: GCOM and OTCQB: GRCMF), (“Green Shift”, “GCOM” or the “Company”) is pleased to announce that it has closed the previously announced (see previous press release dated December 11, 2023), sale (the “Transaction”) of its Berlin Project (“Berlin” or the “Project”) located in Caldas, Colombia to Jaguar Uranium Corp. (formally Latam Battery Metals Inc.) (“Jaguar”). Jaguar is an arm’s length privately-held company focused on the uranium sector with strong operating experience in Colombia and intends to pursue a listing on a recognized stock exchange in North America (the “Listing”) in the coming months.

Trumbull Fisher, CEO and Director of GCOM, commented, “We are pleased to complete this transaction which offers GCOM several benefits. Firstly, with multiple lithium exploration opportunities, our portfolio now appropriately reflects our exploration focus and technical expertise in Canada and Argentina. Secondly, our equity position in Jaguar complements our basket of uranium holdings which includes IsoEnergy Ltd., Atha Energy Corp., and Premier American Uranium Inc., offering significant leverage as the sector’s momentum continues. Finally, as a result of offsetting the liabilities and taxes associated with Berlin and future cash payments as the Project is advanced, we now have an improved and strengthened balance sheet to continue advancing our projects and assessing additional strategic opportunities.”

Mr. Fisher, continued, “As a significant shareholder of Jaguar, we look forward to the Listing and remain committed to the Project’s advancement, which we believe has the potential to unlock significant value for our collective shareholders.”

Luis Ducassi, CEO of Jaguar, commented, “We believe Berlin is an exceptional asset and we are excited to utilize our in-country and capital markets expertise to advance the Project through a new and dedicated vehicle as sentiment for uranium grows. We thank the GCOM team for their invaluable support and anticipate further collaboration as we advance the Project. Additionally, we welcome Trumbull to our board and look forward to leveraging his expertise.”

Pursuant to the share purchase agreement between GCOM and Jaguar dated December 8, 2023 (the “Agreement”), Jaguar has acquired 100% of the issued and outstanding shares (the “Target Shares”) of two wholly-owned subsidiaries of GCOM, which together hold indirectly a 100% interest in the Project for consideration comprised of: