Moon River Capital Ltd. announced that it intends to proceed with the previously announced share purchase agreement dated February 28, 2024 with Sojitz Corporation. On February 28, 2024 the Company announced its intention to indirectly acquire, through the acquisition of Sojitz Moly Resources Inc., a wholly-owned subsidiary of Sojitz, (i) a 25% participating interest in the Endako molybdenum mine complex in British Columbia and (ii) certain funding provided by Sojitz to SMR for the Endako Mine Complex in the aggregate of approximately $43,010,000. SMR is the holder of a 25% participating interest in The Endako Mine Complex pursuant to an exploration, development and mine operating agreement dated as of June 12, 1997 entered into between SMR and Thompson Creek Mining Ltd. (now Thompson Creek Metals Company Inc.) ("TCM"), a subsidiary of Centerra Gold Inc. The acquisition was subject to the waiver or expiry of an outstanding pre-emptive right relating to SMR's interest in the Endako Mine Complex, which could have been exercised within 60 days of the date notice was provided of the Acquisition.

Moon River has received notice from SMR that the pre-emptive right will not be exercised.