Pampa Metals and Rugby Resources Enter Into Definitive Agreement

Vancouver, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- Pampa Metals Corp. (“Pampa Metals”) (CSE:PM / FSE:FIR / OTCQB:PMMCF) and Rugby Resources Ltd. (“Rugby”) (TSXV:RUG) are pleased to advise that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) providing for, among other matters, the acquisition by Pampa Metals of 100% of the outstanding common shares of Rugby (“Rugby Shares”) under a statutory plan of arrangement, (the “Arrangement”) which replaces and supersedes the letter agreement between the parties, (refer to the joint press release of Pampa Metals and Rugby dated February 19, 2025). Pursuant to the Arrangement, Rugby shareholders will receive one common share of Pampa Metals (each, a “Pampa Share”) for every 6.4 Rugby Shares. In addition, as part of the Arrangement, Rugby shareholders will receive common shares (“SpinCo Shares”) of a newly formed exploration company, Aegis Resources Ltd. (“Rugby SpinCo”), on the basis of one SpinCo Share for every ten Rugby Shares held.