Patterson Metals to Seek Shareholder Approval FOR Consolidation
NEWS RELEASE
PATTERSON METALS TO SEEK SHAREHOLDER APPROVAL FOR CONSOLIDATION
Vancouver, Canada – May 28, 2026 – Patterson Metals Corp. (the “Company”) (TSXV: PAT, FWB: 33H2)
announces that an annual general and special meeting (the “ Meeting”) of the shareholders of the
Company will be held on June 18, 2026. At the Meeting, shareholders will receive the audited consolidated
financial statements of the Company for the years ended October 31, 2025 and 2024, vote to re-appoint
Manning Elliott LLP, Chartered Professional Accountants as the auditor of the Company for the ensuing
year, vote to set the number of directors for ensuing year, vote to re-elect the current board of directors,
vote to re-approve the omnibus incentive plan and vote to approve a consolidation of the Company’s
outstanding common shares (the “Shares”) on the basis of up to ten (10) existing Shares for one (1) post-
Share (the “Consolidation”).
The Board of Directors of the Company (the “ Board”) believes that the Consolidation is in the best
interests of the Company and its shareholders for several reasons:
1. Enhanced capital -raising flexibility. A higher post -Consolidation share price may make the
Company’s securities more attractive to institutional and retail investors.
2. Reduction of issued and outstanding shares. The Consolidation will reduce the number of Shares
outstanding, which the Board believes could reduce share price volatility and facilitate future
financings.
3. No impact on intrinsic value. The Consolidation will not, by itself, change shareholders’
proportionate interest in the Company, nor will it affect the intrinsic value of the Company.
The constating documents of the Company, and the Business Corporations Act (British Columbia) permit
the Board to authorize the consolidation of the Shares without the approval of shareholders. The policies
of the TSX Venture Exchange (the “TSXV”) require the Company to seek approval of shareholders for any
security consolidation which, when combined with any other security consolidation conducted by the
Company within the previous twenty-four months that was not approved by shareholders, would result
in a cumulative consolidation ratio of greater than ten (10) to one (1) over such period. The Company
previously effected a ten (10) for one (1) consolidation of its Shares on September 24, 2024. Shareholders
are being asked to approve the Consolidation to satisfy the policy requirements of the TSXV.
There are currently 7,110,730 Shares outstanding, and assuming the Consolidation is completed on a one-
for-ten basis, the Company will have approximately 711,073 Shares outstanding. The Consolidation will
take effect on a date to be coordinated with the TSXV. The Company will announce by news release the
effective date of the Consolidation, as well as the final exchange ratio. Completion of the Consolidation
- 2 -
remains subject to the TSXV and the satisfaction of any applicable public distribution requirements.
Notwithstanding the foregoing, even if the Consolidation is approved by Shareholders at the Meeting, the
Board may elect not to proceed with the Consolidat ion, in its sole discretion. The Board will continue to
assess market conditions and the interests of the Company and Shareholders before proceeding to effect
the Consolidation, if at all. The Company is not changing its name as part of the proposed Consolidation.
For further information concerning the Meeting, and the Consolidation, readers are encouraged to review
the management information circular (the “Circular”) of the Company. A copy of the Circular was mailed
to shareholders of record as of the closing of business on May 13, 2026, and is also available under the
Company’s profile on SEDAR+ at www.sedarplus.ca.
About Patterson Metals Corp
Patterson Metals Corp. is a mineral exploration company with a focus on uranium. We create value for
our shareholders by engaging in promising mineral exploration opportunities. Our main goal is the
advancement of various projects from discovery all the way to production. This vertically integrated
strategy allows the Company to achieve exceptional shareholder value through the entire life-cycle of the
mining process.
For further information, contact the Company at [email protected] or 604.558.4300, or visit the
Company’s website at www.pattersonmetals.com.
On behalf of the Board,
Patterson Metals Corp.
Simon Cheng, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release,
the words “anticipat e”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar
words or expressions identify forward -looking statements or information. These forward -looking statements or
information may relate to the Consolidation and related regulatory approvals, as well as other factors or information.
Such statements represent the Company’s current views with respect to future events and are necessarily based upon
a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to
significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors,
both known and unknown, could cause results, performance, or achievements to be materially di fferent from the
results, performance or achievements that are or may be expressed or implied by such forward -looking statements.
The Company does not intend, and does not assume any obligation, to update these forward -looking statements or
information to reflect changes in assumptions or changes in circumstances or any other events affecting such
statements and information other than as required by applicable laws, rules and regulations.