Arctic Fox appoints Renton as CEO; Chew resigns

Executive Summary

• Arctic Fox Lithium Corp. closed the second tranche of its non-brokered private placement, raising $320,000 and bringing total gross proceeds to $500,000 for general working capital.
• The company appointed Kirby Renton as its new Director, President, and CEO, effective immediately.
• Each unit issued in the placement consists of one common share and one warrant exercisable at $0.12 per share for a 24-month period.

Key Details

• Financing Structure: Closed second tranche of non-brokered private placement consisting of 3.2 million units at $0.10 per unit.
• Gross Proceeds: $320,000 from the second tranche; $500,000 total from both tranches, allocated for general working capital purposes.
• Warrant Terms: Each unit includes one share purchase warrant exercisable at $0.12 per share for a period of 24 months from the date of issuance.
• Hold Period: All securities issued are subject to a statutory hold period of four months plus one day.
• Fees: No finders' fees were paid in connection with the private placement.
• CEO Appointment: Kirby Renton appointed as Director, President, and CEO effective immediately.
• Predecessor Changes: Harry Chew resigned as President and CEO (remains on the board); Eddy Siu resigned as Director on Jan. 13, 2026.