Naughty acquires nine million Sorrento shares

Executive Summary

• Naughty Ventures Corp. acquired 9 million common shares of Sorrento Resources Ltd., representing a 17.25% ownership stake.
• The acquisition was executed at $0.25 per share under an amended and restated option agreement dated October 29, 2025.
• An Early Warning Report has been filed with the securities regulators in accordance with NI 62‑103F1 and is available on SEDAR+.

Key Details

• Shares Acquired: 9,000,000 common shares of Sorrento Resources Ltd.
• Purchase Price: $0.25 per share (total consideration ≈ $2.25 million).
• Ownership Percentage Post‑Transaction: 17.25% of the 52,172,769 issued and outstanding shares as of November 21, 2025.
• Option Agreement: Amended and restated option agreement dated October 29, 2025, granting the right to purchase up to 100% of the acquiror’s interest in the Bottom Brook rare earth element property (Newfoundland & Labrador).
• Prior Holdings: The acquirer held no shares or securities of Sorrento Resources Ltd. before this transaction.
• Regulatory Filing: Early Warning Report filed pursuant to National Instrument 62‑103F1; copy available on SEDAR+ under the company profile.

Notable Quotes

(No quotes were provided in the release.)