Naughty to acquire Lord Baron property from Sorrento

Executive Summary

• Naughty Ventures Corp. entered a purchase agreement to acquire 100 % of Sorrento Resources Ltd.’s Lord Baron property in Newfoundland.
• Consideration will be one million Naughty Ventures common shares at a deemed price of $0.18 per share, subject to a 2 % NSR royalty and a statutory hold period.
• Closing is expected within weeks pending regulatory approvals; Sorrento will pay a finder's fee of 100,000 Sorrento shares to Kluane Capital FZCO.

Key Details

• Transaction: Acquisition of 100 % undivided interest in the Lord Baron property.
• Consideration: Issuance of 1,000,000 Naughty Ventures common shares at a deemed $0.18 per share price.
• Royalty: Existing 2 % net smelter return (NSR) royalty remains on the property.
• Hold Period: Shares subject to a statutory four‑month‑and‑one‑day hold period from issuance date.
• Closing Conditions: Subject to consents and approvals, including Canadian Securities Exchange approval and customary closing conditions; expected completion in the coming weeks.
• Finder’s Fee: Sorrento to pay 100,000 of its own shares to Kluane Capital FZCO upon closing.
• Strategic Rationale: Provides Naughty Ventures with an additional near‑term exploration opportunity on a known property.

Notable Quotes

“We know the Lord Baron property well; it's a compelling opportunity and we are excited to advance it this year.” – Blair Naughty, CEO, Naughty Ventures Corp.