Targa Exploration Corp. (CNSX:TEX) agreed to acquire Pan Canadian Lithium Corp. for CAD 1.8 million on May 10, 2023. Pursuant to the acquisition agreement, Targa will issue 5,766,666 common shares in the capital of Targa (the "Consideration Shares") to the shareholders of Pan Canadian Lithium. Upon completion of the acquisition and other transactions previously announced by Targa, Pan Canadian will own approximately 9.9% of the issued and outstanding shares in the capital of Targa, on a non-diluted basis. At closing of the acquisition, Targa will also acquire Pan Canadian's positive cash position of approximately CAD 240,000. The consideration shares will be subject to a four-month hold period pursuant to applicable Canadian securities laws. Upon closing of the acquisition, Cameron Tymstra, currently the Chief Executive Officer of Pan Canadian Lithium, will join the Targa management team as Chief Executive Officer. Jon Ward will continue working on the Targa management team following closing of the acquisition in his new role as Vice President of Corporate Development and will remain a director on Targa's board. The acquisition is subject to standard closing conditions for transaction of this nature. Subject to the satisfaction of the closing conditions, the acquisition is expected to close on or about May 19, 2023.

Targa Exploration Corp. (CNSX:TEX) completed the acquisition of Pan Canadian Lithium Corp. on May 19, 2023. Effective immediately, Cameron Tymstra has been appointed as the Chief Executive Officer and President of Targa. Mr. Tymstra is currently President and CEO of Tarachi Gold Corp., a Mexico-focused gold exploration company and has worked in mining and mineral exploration throughout the Americas for the past 15 years. He holds a degree in mineral engineering from the University of Toronto and a Master's in mining management from the South Dakota School of Mines. Jon Ward will continue working on the Targa management team following closing of the Acquisition in his new role as Vice President of Corporate Development and will remain a director on Targa's board.