PowerOne Capital Markets Limited and certain additional parties entered into a non-binding letter of intent to acquire 50.53% stake in BC Moly Ltd. (TSXV:BM.H) from 1095474 B.C. Ltd. and the Yurkowski Joint Partner Trust for CAD 0.23 million on July 13, 2021. PowerOne Capital Markets Limited and certain additional parties entered into a share purchase agreement to acquire 50.53% stake in BC Moly Ltd. from 1095474 B.C. Ltd. and the Yurkowski Joint Partner Trust on September 24, 2021. As reported, PowerOne and certain additional parties will acquire 4,465,156 common shares of BC Moly Ltd on the basis of a price of approximately CAD 0.0521 per share and also acquired the option to purchase a minimum of 19,740,754 additional common shares of BC Moly Ltd. to be issued to 1095474 B.C. Ltd. following the proposed conversion of CAD 1,110,417.39 of debt owing by BC Moly to 1095474 B.C. Ltd.

The board of directors and management of BC Moly will be reconstituted such that all directors and officers of BC Moly will be comprised of the purchaser's nominees. Completion of the transaction remains subject to the entering into of all applicable definitive agreements and receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

PowerOne Capital Markets Limited and certain additional parties completed the acquisition of 15.97% stake in BC Moly Ltd. (TSXV:BM.H) from 1095474 B.C. Ltd. and the Yurkowski Joint Partner Trust on January 6, 2022. In connection with the transaction, PowerOne acquired 2.03 million common shares and a right to purchase an additional 8.97 million optioned shares under the options, representing approximately 22.96% of the issued and outstanding common shares of BC Moly on a non-diluted basis and 38.49% on a partially diluted basis. Following the closing, 1095474 B.C. Ltd. owns approximately 69.43% while the Yurkowski Joint Partner Trust does not own any common shares in BC Moly.

In connection with the closing of the transaction, effective immediately, Edward Yurkowski, Paul Champagne, and Brian Kynoch, have resigned as directors of BC Moly. Edward Yurkowski has also resigned as President, Chief Executive Officer, Chief Financial Officer and Corporate Secretary of the BC Moly. David D'Onofrio, Adam Parsons and Catherine Lathwell have been appointed to serve as directors of BC Moly, to fill the vacancies created by the foregoing resignations. In addition to his appointment as a director of BC Moly, David D'Onofrio has also been appointed Chief Executive Officer of BC Moly. Jerry Wang has been appointed as the Chief Financial Officer of BC Moly.