GK Provides Additional Details Regarding Its Reverse Takeover with Syntholene Energy

Vancouver, British Columbia--(Newsfile Corp. - May 16, 2025) - GK Resources Ltd. (TSXV: NIKL.H) ("GK" or the "Company") is pleased to provide additional details on the proposed transaction with Syntholene Energy Corp ("Syntholene"), discussed in the Company's news release dated May 6, 2025. As previously announced, the parties have entered into a securities exchange agreement pursuant to which the Company will, among other things, acquire all of the issued and outstanding securities of Syntholene (the "Transaction").

It is anticipated that the Transaction will constitute a "Change of Business" and "Reverse Takeover" for GK under Policy 5.2 - Changes of Business and Reverse Takeovers of the Corporate Finance Manual of the TSX Venture Exchange (the "TSXV").

Additional Information Regarding the Transaction

Select Financial Information

The following table sets out selected audited financial information with respect to Syntholene for the period from incorporation on February 5, 2024 to December 31, 2024.

		As at December 31, 2024  (Audited)
	Assets	$168,437
	Liabilities	$145,146
	Share Capital	$799
	Net Profit (Loss)	$(215,219)

 

For additional information relating to the terms of the Transaction, please refer to the Company's news release dated May 6, 2025, which is available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. In addition, more information relating to the Transaction will be available in the Company's filing statement in respect of the Transaction to be filed in due course on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile.

About GK

GK is a reporting issuer incorporated under the laws of British Columbia and listed on the TSXV under the symbol NIKL. GK is backed by the Inventa Capital group.

For further information, please contact:

Jon Ward, Chief Executive Officer
Telephone: [phone]
Email: [e-mail]

Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Where applicable, 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.