Osprey Advanced Materials Corp. acquired Titan Vanadium-Iron-Titanium Project in Ontario from Silver Elephant Mining Corp. (TSX:ELEF) for approximately CAD 1.3 million on August 9, 2023. To acquire the Titan Project, Cachee paid Silver Elephant an aggregate of approximately CAD 1.29 million, comprised of the following: i) CAD 231,000 in cash; and ii) issued 13,283,801 common shares in the capital of Cachee (?Shares?), valued at a price of CAD 0.08 per Share, being the last financing price of Cachee. The number of Shares issued to Silver Elephant in connection with the transaction, equals 19.99% of total issued and outstanding Shares as of the date hereof. The Shares issued to Silver Elephant are subject to certain contractual and regulatory resale restrictions. Furthermore, Cachee granted to Silver Elephant a pre-emptive right for a period of 18 months from the closing date to participate in future equity financings of Cachee to maintain its 19.99% interest in Cachee.

Osprey Advanced Materials Corp. completed the acquisition of Titan Vanadium-Iron-Titanium Project in Ontario from Silver Elephant Mining Corp. (TSX:ELEF) on August 9, 2023.