DEEP SEA MINERALS CORP. ANNOUNCES PROPOSED SHARE SPLIT

Vancouver, BC, May 20, 2026 (GLOBE NEWSWIRE) -- Deep Sea Minerals Corp. (CSE: SEAS) (OTCQB: DSEAF) (FSE: X450) ("Deep Sea Minerals" or the "Company"), announces that it intends to split the common shares in the capital of the Company (the “Shares”) on the basis of two (2) post-split Shares for each one (1) issued and outstanding pre-split Share (the “Share Split”). Subject to the approval of the Canadian Securities Exchange (the “CSE”), all shareholders of record on May 26, 2026 (the “Record Date”) are expected to be entitled to receive to receive two post-Share Split Shares for each pre-Share Split Share held pursuant to the Share Split.

The Company’s name and stock symbol are currently expected to remain unchanged following the Share Split. The Company currently has 23,904,125 Shares issued and outstanding on a pre-split basis.  If the proposed Share Split is undertaken, the Company will have approximately 47,808,250 Shares issued and outstanding on a post-split basis. 

In connection with the Share Split, the number of Shares issuable pursuant to the Company’s outstanding stock options and warrants, and the corresponding exercise prices thereof will be proportionately adjusted in accordance with the terms of such securities.

Effective April 1, 2026, the Company granted an aggregate of 200,000 restricted share units (“RSUs”) to an Officer of the Company pursuant to the terms of the Company’s Long Term Incentive Plan. The RSUs were granted on a pre-Share Split basis, vest immediately, and are subject to certain voluntary hold period restrictions over a 24-month period in accordance with the terms of the applicable award agreement. All outstanding RSUs will be adjusted in accordance with the terms of the Long-Term Incentive Plan in connection with the Share Split.

“We believe the proposed share split represents an important step in positioning Deep Sea Minerals for broader market participation and improved trading liquidity,” said James Deckelman, Chief Executive Officer of Deep Sea Minerals. “As we continue to advance our long-term strategic initiatives, including evaluating opportunities to expand the Company’s presence within the U.S. public markets, we remain focused on building shareholder value and increasing visibility among a broad institutional and retail investor audience”.

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