North Peak Resources to Repurchase 1 Million Shares

North Peak Resources Ltd. announces an agreement to repurchase and cancel 1,000,000 of its common shares from Solarljos, LLC, for C$800,000. The transaction requires approval by the TSX Venture Exchange.

Solarljos, controlled by the Erickson family from Nevada, previously sold the Prospect Mountain Mine Complex to North Peak in 2023. This repurchase reflects the company's confidence in the property's value.

Following the transaction, Solarljos will hold 7,000,000 shares, approximately 14.3% of North Peak's shareholdings. The transaction will be exempt from certain formal requirements due to its size relative to the company's market capitalization.

Proceeds from the share sale will support the Erickson family's humanitarian projects in Africa. Dr. Ty Erickson, a company director, abstained from the vote due to his family’s involvement.