Metallum Resources Enters Into Letter of Intent With Oneup Games to Complete a Business Combination - Seite 3

The principal shareholders of OneUp Sports are: Daren Trousdell (20.4% interest), resident in Florida; and, Alberta Capital Corporation (12.7% interest), resident in Alberta.

Sponsorship

Sponsorship of a reverse take-over is required by the TSXV unless exempt in accordance with TSXV policies. Metallum is currently reviewing the requirements for sponsorship and may apply for an exemption from the sponsorship requirements pursuant to the policies of the TSXV, however, there is no assurance that an exemption is available or that Metallum will ultimately obtain an exemption if one is available. Metallum intends to include any additional information regarding sponsorship in a subsequent press release.

All information contained in this news release with respect to Metallum and OneUp Sports was supplied by the respective parties for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party.

Metallum will issue additional press releases related to the final legal structure of the Transaction, financing terms, officers and directors of the resulting issuer, sponsorship and other material information as it becomes available.

On behalf of Metallum, Robert Suttie, Interim Chief Executive Officer, stated:

"This transaction represents a significant opportunity for shareholders of both companies. We are excited with the future of OneUp Sports and the growth prospects a combined company will afford."

On behalf of OneUp Sports, Daren Trousdell, Chief Executive Officer, stated:

"This transaction represents an incredible opportunity for our business and shareholders. We are excited to join forces with Metallum to continue building our vision."

Completion of the Transaction is subject to a number of conditions, including TSXV acceptance and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Metallum should be considered highly speculative.