Brasnova Energy Materials Inc. — Capital/Financing Update 2021

Feb 10, 2021

February 9, 2021 News Release TSX-V: PMR

PRIME MERIDIAN ANNOUNCES SHARES FOR DEBT AND NON-BROKERED PRIVATE PLACEMENT FINANCING

Vancouver, B.C.: Prime Meridian Resources Corp. ("PMR" or the "Company") (TSX-V: PMR) announces that the Company intends to settle outstanding loan obligations of $844,988 through the issuance of 8,449,880 shares-for-debt at a deemed price of $0.10 per share. Further, the Company intends to settle outstanding accounts payable obligations of up to $863,519 through the issuance of 4,317,595 shares-fordebt at a deemed price of $0.20 per share. Principals and other parties have also agreed to terminate further debts and liabilities of approximately $1,702,323.

The Company also announces a non-brokered private placement financing of up to 3.5 million units at a price of ten cents per unit to raise working capital proceeds of up to $350,000. Each unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share at a price of 15 cents per share for 12 months from closing. The warrants will be subject to the right of the company to accelerate the exercise of the warrants if the shares of the company trade at or above 25 cents for a period of 10 consecutive trading days. Finders' fees may apply to this private placement and all securities issued will be subject to a four-month hold period.

All securities issued in connection with the shares-for-debt and the private placement will be subject to a statutory hold period of four months from the date of issuance. These issuances will also be subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange.

On behalf of the Board of Directors of Prime Meridian Resources Corp.

"Brian Leeners"

Brian Leeners, CEO & Director 604-862-4184

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved the contents of this press release.

1400 – 1040 WEST GEORGIA STREET VANCOUVER, BC, V6E 4H1 (604) 893-8384 http://primemeridianresources.com/