Centurion Minerals Ltd. (TSXV:CTN) entered into an arrangement agreement to spin-off 1364565 B.C. Ltd. on June 24, 2022. Centurion received an Interim Order from the Supreme Court of British Columbia (the "Court") regarding approval of the Arrangement. The Interim Order sets out the conditions that must be met to apply for a final order of the Court (ôFinal Orderö) approving the Arrangement and includes the holding of the Annual General and Special meeting (the ôMeetingö) of shareholders of Centurion to approve the Arrangement.

Upon the Arrangement becoming effective, 1364565 will cease to be a wholly owned subsidiary of Centurion and the Shareholders of Centurion, as of the Share Distribution Date, will hold 100% of the outstanding SpinCo Shares. Centurion Board approved the Arrangement, concluding that it is in the best interests of the Company and its Shareholders and recommends that Shareholders vote in favour of the Arrangement at the Meeting. Record date of for the transaction is June 28, 2022.

As of August 12, 2022, Shareholders of Centurion approved the agreement. As of August 17, 2022, the Supreme Court of British Columbia granted the final court order approving the plan of arrangement. It is currently expected that, subject to satisfaction of all such terms and conditions, the Arrangement will close on or about August 23, 2022.

Computershare Trust Company of Canada acted as registrar and transfer agent to Centurion Minerals.