Early Warning Report
BUTTE ENERGY INC.
SUITE 3123 – 595 BURRARD STREET
VANCOUVER, BC V7X 1J1
TEL: 604-609-6110
EARLY WARNING REPORT
July 31, 2024 TSXV – BEN.H
Vancouver, British Columbia – Butte Energy Inc. (TSXV – BEN.H) (the “Company”) has been
advised that in connection with the completion of private transactions, Thomas Humphreys of Vancouver,
B.C., has ceased to be a 10% holder of Butte Energy Inc., and will not be required to complete any further
early warning filings, as further described below.
Early Warning Disclosure
The Company has been advised that Mr. Humphreys, today, sold 7,850,000 common shares, representing
11.96% of the issued and outstanding common shares of the Company pursuant to private transactions.
Immediately prior to the dispositions, Mr. Humphreys and his related entities beneficially owned or
exercised control or direction over an aggregate of 12,475,000 common shares, representing 19% of the
issued and outstanding common shares of the Company. Immediately following the disposition, Mr.
Humphreys and his related entities beneficially owned or exercised control or direction over an aggregate
of 4,625,000 common shares, representing 7.04% of the issued and outstanding common shares of the
Company. Mr Humphreys would own 7.33% of the Company on a partially diluted basis assuming the
exercise of 200,000 stock options to purchase common shares.
Mr. Humphreys disposed of these securities for investment purposes and the transactions will be
disclosed in an Early Warning Report to be filed on SEDAR+ at www.sedarplus.ca pursuant to National
Instrument 62-103 (Early Warning Report). As the number of s hares Mr. Humphreys owns or controls,
directly or indirectly are now less than 10% of the issued and outstanding s hares on a partially diluted
basis, Mr. Humphreys will no longer be required to complete any further early warning filings in
satisfaction of the requirements of the NI 62-103. Mr. Humphreys may in the future acquire or dispose of
securities of the Company, throug h the market, privately or otherwise, as circumstances or market
conditions warrant.
On behalf of BUTTE ENERGY INC.
“Geir Liland”
Chief Executive Officer
For further information please contact:
Tel: 604.609.6110
NEITHER THE TSX VENTURE EXCHANGE N OR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED
IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
ALL STATEMENTS IN THIS PRESS RELEASE, OTHER THAN STATEMENTS OF HISTORICAL FACT, ARE "FORWARD -
LOOKING INFORMATION" WITH RESPECT TO THE COMPANY WITHIN THE MEANING OF APPLICABLE SECURITIES
LAWS. THE COMPANY PROVIDES FORWARD -LOOKING STATEMENTS FOR THE PURPOSE OF CONVEYING
INFORMATION ABOUT CURRENT EXPECTATIONS AND PLANS RELATING TO THE FU TURE AND READERS ARE
CAUTIONED THAT SUCH STATEMENTS MAY NOT BE APPROPRIATE FOR OTHER PURPOSES. BY ITS NATURE, THIS
INFORMATION IS SUBJECT TO INHERENT RISKS AND UNCERTAINTIES THAT MAY BE GENERAL OR SPECIFIC AND
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WHICH GIVE RISE TO THE POSSIBILITY THAT EXPECT ATIONS, FORECASTS, PREDICTIONS, PROJECTIONS OR
CONCLUSIONS WILL NOT PROVE TO BE ACCURATE, THAT ASSUMPTIONS MAY NOT BE CORRECT AND THAT
OBJECTIVES, STRATEGIC GOALS AND PRIORITIES WILL NOT BE ACHIEVED. THESE RISKS AND UNCERTAINTIES
INCLUDE BUT ARE NOT LIMITE D TO THOSE IDENTIFIED AND REPORTED IN THE COMPANY’S PUBLIC FILINGS
UNDER THE COMPANY’S SEDAR PROFILE AT WWW.SEDARPLUS.CA. ALTHOUGH THE COMPANY HAS ATTEMPTED
TO IDENTIFY IMPORTANT FACTORS THAT COULD CAUSE ACTUAL ACTIO NS, EVENTS OR RESULTS TO DIFFER
MATERIALLY FROM THOSE DESCRIBED IN FORWARD -LOOKING INFORMATION, THERE MAY BE OTHER FACTORS
THAT CAUSE ACTIONS, EVENTS OR RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED OR INTENDED. THERE CAN
BE NO ASSURANCE THAT SUCH INFORMATIO N WILL PROVE TO BE ACCURATE AS ACTUAL RESULTS AND FUTURE
EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH STATEMENTS. THE COMPANY
DISCLAIMS ANY INTENTION OR OBLIGATION TO UPDATE OR REVISE ANY FORWARD -LOOKING INFORMATION,
WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE UNLESS REQUIRED BY LAW.