Sorrento closes option deal to acquire Bottom Brook

Executive Summary

• Sorrento Resources Ltd. has closed on the amended and restated option agreement for the Bottom Brook rare-earth element (REE) property in Newfoundland and Labrador.
• The transaction involves the acquisition of up to 100% of Naughty Ventures' interest in the mineral claims.
• Consideration for the closing includes the issuance of 9 million common shares to Naughty Ventures and 900,000 shares to Kluane Capital FZCO as a finder's fee.

Key Details

• Transaction: Closing of amended and restated option agreement dated Oct. 29, 2025.
• Asset: Bottom Brook rare-earth element (REE) property, located in Newfoundland and Labrador.
• Counterparties: Sorrento Resources Ltd. (Acquirer) and Naughty Ventures (Vendor).
• Equity Issuance to Vendor: 9,000,000 common shares of Sorrento Resources Ltd. issued to Naughty Ventures.
• Finder's Fee: 900,000 Sorrento shares issued to Kluane Capital FZCO.
• Share Restrictions: The Sorrento shares issued (both to Naughty Ventures and Kluane Capital) bear a hold period of four months and one day.
• Hold Period Expiry: March 21, 2026.

Notable Quotes

• None provided in the text.