Aeonian Resources — Capital/Financing Update 2021

Jun 12, 2021

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.

ALTINA CAPITAL CORP RECIEVES EXCHANGE CONDITINAL APPROVAL FOR PRIVATE PLACEMENT

FOR IMMEDIATE RELEASE

VANCOUVER, B.C. June 11, 2021 – Altina Capital Corp. (TSXV: ALTN.P) (the “ Company ”). Further to its news release of June 1, 2021 announcing that it has entered into a definitive agreement (the “ Definitive Agreement ”) in connection with its proposed Qualifying Transaction with Omega Gold Corp. (the “ QT” ), the Company is pleased to announce it has received TSX Venture Exchange (“ Exchange ”) conditional approval for its previously disclosed private placement.

As disclosed in its June 1, 2021 news release, pursuant to the Definitive Agreement in connection with the QT, the Company intends to complete one or more concurrent financings for aggregate gross proceeds of not less than $5,500,000 not more than $7,500,000 (increased from $6,500,000 previously disclosed in the Company’s news releases of November 2, 2020 and February 18, 2021) (the “ Concurrent Financing ”) comprised of units of the Company (each, a “ Unit ”) at a price of $0.25 per Unit. Each unit will be comprised of one common share and one share purchase warrant (each, a “ Warrant ”) of the Company, and with each Warrant exercisable to acquire one common share in the capital of the Company at $0.50 for a period of one year from date of issuance. As previously disclosed, net proceeds from the Concurrent Financing are intended to be used for a 6,000 meter (45-60 shallow holes, 100-150 meter per hole) drilling program inclusive of mapping, sampling, trenching, and channel sampling as well as working capital and general corporate purposes, following completion of the QT, and to fund costs associated with the completion of the QT.

In the event that the QT is not completed for any reason, the Company shall instead complete a standalone private placement (the “ Private Placement ”) of up to 31,250,000 common shares at a price of $0.24 per common share for aggregate proceeds of up to $7,500,000 (increased from $6,500,000 previously disclosed in the Company’s news releases of November 2, 2020 and February 18, 2021). It is anticipated that the proceeds realized under the Private Placement would be used by the Issuer only to identify and evaluate businesses or assets and obtain shareholder approval for a proposed qualifying transaction in accordance with Exchange policies.

The closing of either the Concurrent Financing or the Private Placement is subject to the final approval of the Exchange and, subject to compliance with applicable Exchange policies, the Private Placement is not subject to any minimum subscription amount.

Trading of the Company Shares

Trading in the common shares of the Company has been halted as a result of the announcement of the proposed QT. The Company expects that trading will remain halted pending closing of the QT, subject to the earlier resumption upon Exchange acceptance of the QT and the filing of required materials in accordance with TSXV policies.

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About Altina Capital Corp.

Altina Capital was incorporated on August 23, 2019 pursuant to the provisions of the Business Corporations Act (British Columbia) and is a “Capital Pool Company” as such term is defined in Policy 2.4 of the TSXV. For further information please see the final prospectus of the Company dated July 21, 2020, filed on SEDAR at www.sedar.com.

For further information, please contact:

Mirza Rahimani, CEO, CFO and Corporate Secretary Telephone: (604) 319-9000

Cautionary Notes

As the date of this press release, the Company has not entered into a Definitive Agreement with Omega and readers are cautioned that there can be no assurances that a Definitive Agreement will be executed.

Completion of the QT is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to TSXV requirements, shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed QT and has neither approved nor disapproved the contents of this press release.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “ 1933 Act ”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation, All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements contained in this

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press release include, without limitation, statements regarding: the terms, conditions, and completion of the QT or Private Placement, the Definitive Agreement and the Concurrent Financings; the business and operations of the Company; and use of funds. In making the forward- looking statements contained in this press release, the Company has made certain assumptions, including that: due diligence will be satisfactory; the Concurrent Financing or Private Placement will be completed on acceptable terms; all applicable shareholder, and regulatory approvals for the QT or the Private Placement will be received; and there would not be changes in the conditions under which the QT would complete, including regulatory changes or the operating environment for the Company. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: results of due diligence; availability of financing; delay or failure to receive board, shareholder or regulatory approvals; and general business, economic, competitive, political and social uncertainties and economic risks associated with current unprecedented market and economic circumstances due to the COVID-19 pandemic. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.