First Tellurium to Acquire Additional Interest in Subsidiary PyroDelta Energy

Executive Summary

• First Tellurium Corp. is acquiring an additional 8% equity stake in its subsidiary PyroDelta Energy Inc., raising its total ownership to 83%.
• The purchase price for the additional shares is US$240,000 paid to Michael Abdelmaseh under a gentlemen’s agreement.
• Management states the increased ownership will enhance control, improve negotiating position with customers and investors, and create better opportunities to monetize PyroDelta’s thermoelectric technology.

Key Details

• Transaction: Equity purchase of an additional 8% interest in PyroDelta Energy Inc. from existing shareholder Michael Abdelmaseh.
• Total Ownership Post‑Deal: First Tellurium’s stake rises from 75% to 83% of PyroDelta.
• Purchase Price: US$240,000 payable to Mr. Abdelmaseh for the additional shares.
• Rationale (Management Commentary):
• Greater control and stronger negotiating position with customers and investors.
• Anticipated improved ability to monetize PyroDelta’s thermoelectric technology.
• Expectation of delivering increased shareholder value.
• Future Outlook: Management indicates continued interest from parties and tech companies in acquiring part of PyroDelta, suggesting potential future strategic options.

Notable Quotes

“The stronger control position will provide better opportunities to monetize the thermoelectric technology and our investment in PyroDelta,” – Tyrone Docherty, President & CEO.

All forward‑looking statements are subject to risks and uncertainties as described in the release.