Essex Resources completes $605,000 IPO

Mr. Anthony Zelen reports ESSEX RESOURCES CORP. COMPLETES IPO AND ANNOUNCES LISTING ON THE TSX VENTURE EXCHANGE Essex Resources Corp. has completed its initial public offering (IPO) in which it distributed 2.7 million common shares at a price of 15 cents per common share and one million flow-through common shares at a price of 20 cents per flow-through share, for aggregate gross proceeds of $605,000. The company's common shares were listed on Oct. 22, 2025 (after market close), and are expected to commence trading on the TSX Venture Exchange on or about Oct. 23, 2025, under the trading symbol ESXR. Leede Financial Inc. acted as exclusive agent in respect of the IPO on a commercially reasonable efforts basis. Pursuant to the IPO, the agent received a cash commission of $37,600 and an aggregate of 224,000 non-transferable common share purchase warrants entitling the agent and members of its selling group to purchase 224,000 common shares at 15 cents per common share at any time until Oct. 23, 2028. The agent also received a corporate finance fee of $35,000 plus GST, of which $15,000 was payable in common shares of the company at a deemed price of 15 cents per common share, being 100,000 common shares. The company holds an option to acquire a 100-per-cent right, title and interest in and to eight mineral claims comprising a total of approximately 1,048 hectares in the Similkameen mining division, British Columbia (the Rabbitt property). As a result of the closing of the IPO, the company now has 9,475,000 shares issued and outstanding as of the date hereof, of which 3,575,000 shares are subject to escrow pursuant to National Policy 46-201, released 10 per cent on the IPO closing date with an additional 15 per cent released every six months over a 36-month period. Certain insiders of the company participated in the IPO, acquiring an aggregate of 100,000 flow- through shares at 20 cents per flow-through share for a total purchase price of $20,000. Participation of such insiders in the IPO constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions and is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25 per cent of the company's market capitalization. The company did not file a material change report less than 21 days before the expected closing date of the IPO as the insider participation was not settled until shortly prior to closing and the company wished to close on an expedited basis for sound business reasons. Additional information on the company, the IPO and the Rabbitt property, can be found in the company's final long-form prospectus dated Sept. 4, 2025, as filed on SEDAR+. About Essex Resources Corp. Essex Resources is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The company has an option to acquire a 100-per-cent interest and title to the Rabbitt property located in the Similkameen mining division, British Columbia. We seek Safe Harbor.