Remington Resources, DRNK terminate merger agreement

Mr. Anthony Lau reports REMINGTON RESOURCES INC. ANNOUNCES TERMINATION OF BUSINESS COMBINATION AGREEMENT WITH DRNK BEVERAGE CORP. Remington Resources Inc.'s business combination agreement with DRNK Beverage Corp. has been terminated. The termination became effective on March 31, 2025. Termination of the business combination agreement The company and DRNK mutually agreed to terminate the agreement, effective March 31, 2025. The proposed transaction contemplated under the agreement will not proceed. The company will continue to evaluate strategic opportunities in due course. The company confirms that no advances were made by the company in connection with the proposed transaction contemplated under the agreement. As a result of the termination, the only residual liabilities or guarantees owing by the company to DRNK arising from or related to the agreement and the proposed transaction is the outstanding loans made to the company by DRNK. In connection with the proposed transaction, DRNK made loans to the company in the aggregate amount of $114,744.23. The loans are considered arm's length and are not secured against the assets of the company and do not involve the issuance of any securities of the company. The company is in negotiations to settle the loans.