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Early Warning Report Issued Pursuant to National Instrument 62-103

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LaFleur Minerals (OTCQB: LFLRF) announced that Bullrun Capital Inc., controlled by company Chairman Kulwant (Kal) Malhi, has acquired 4,000,000 shares through an option agreement dated September 17, 2024. The transaction relates to mining claims where Bullrun Capital is the registered owner.

Following the transaction, Malhi's holdings increased from 7.39% to 13.88% of outstanding shares (non-diluted basis). His total position now includes 7,876,246 shares and 251,000 warrants, representing 14.32% on a partially diluted basis. The share count post-transaction stands at 56,735,815 shares.

LaFleur Minerals (OTCQB: LFLRF) ha annunciato che Bullrun Capital Inc., controllata dal presidente dell'azienda Kulwant (Kal) Malhi, ha acquisito 4.000.000 di azioni tramite un accordo di opzione datato 17 settembre 2024. La transazione riguarda concessioni minerarie di cui Bullrun Capital è il proprietario registrato.

In seguito all'operazione, la quota di Malhi è aumentata dal 7,39% al 13,88% delle azioni in circolazione (base non diluita). La sua posizione totale comprende ora 7.876.246 azioni e 251.000 warrant, rappresentando il 14,32% su base parzialmente diluita. Il numero totale di azioni dopo la transazione è di 56.735.815 azioni.

LaFleur Minerals (OTCQB: LFLRF) anunció que Bullrun Capital Inc., controlada por el presidente de la compañía Kulwant (Kal) Malhi, ha adquirido 4.000.000 de acciones mediante un acuerdo de opción fechado el 17 de septiembre de 2024. La transacción está relacionada con concesiones mineras donde Bullrun Capital es el propietario registrado.

Tras la transacción, la participación de Malhi aumentó del 7,39% al 13,88% de las acciones en circulación (base no diluida). Su posición total ahora incluye 7.876.246 acciones y 251.000 warrants, representando el 14,32% en base parcialmente diluida. El número total de acciones después de la transacción es de 56.735.815 acciones.

LaFleur Minerals (OTCQB: LFLRF)는 회사 회장 Kulwant (Kal) Malhi가 통제하는 Bullrun Capital Inc.가 2024년 9월 17일자 옵션 계약을 통해 4,000,000주를 취득했다고 발표했습니다. 이 거래는 Bullrun Capital이 등록 소유주인 광산 채굴권과 관련이 있습니다.

거래 이후 Malhi의 보유 지분은 미희석 기준으로 7.39%에서 13.88%로 증가했습니다. 그의 총 보유 주식은 현재 7,876,246주와 251,000 워런트를 포함하며, 부분 희석 기준으로 14.32%를 차지합니다. 거래 후 총 주식 수는 56,735,815주입니다.

LaFleur Minerals (OTCQB : LFLRF) a annoncé que Bullrun Capital Inc., contrôlée par le président de la société Kulwant (Kal) Malhi, a acquis 4 000 000 d’actions via un accord d’option daté du 17 septembre 2024. La transaction concerne des concessions minières dont Bullrun Capital est le propriétaire enregistré.

Suite à cette opération, la participation de Malhi est passée de 7,39 % à 13,88 % des actions en circulation (base non diluée). Sa position totale comprend désormais 7 876 246 actions et 251 000 bons de souscription, représentant 14,32 % sur une base partiellement diluée. Le nombre total d’actions après la transaction s’élève à 56 735 815 actions.

LaFleur Minerals (OTCQB: LFLRF) gab bekannt, dass Bullrun Capital Inc., das vom Vorstandsvorsitzenden Kulwant (Kal) Malhi kontrolliert wird, 4.000.000 Aktien im Rahmen einer Optionsvereinbarung vom 17. September 2024 erworben hat. Die Transaktion betrifft Bergbauansprüche, bei denen Bullrun Capital als eingetragener Eigentümer geführt wird.

Nach der Transaktion stieg Malhis Anteil von 7,39% auf 13,88% der ausstehenden Aktien (nicht verwässert). Seine Gesamtposition umfasst nun 7.876.246 Aktien und 251.000 Warrants, was auf teilverwässerter Basis 14,32% entspricht. Die Gesamtzahl der Aktien nach der Transaktion beträgt 56.735.815 Aktien.

Positive
  • Significant insider ownership increase shows management confidence
  • Chairman's increased stake aligns management interests with shareholders
  • Transaction includes option for 100% interest in mining claims
Negative
  • Substantial share issuance leads to 8.1% dilution for existing shareholders
  • Increased control concentration in hands of single insider

Vancouver, British Columbia--(Newsfile Corp. - July 18, 2025) - LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Issuer"). This press release is being issued in connection with the filing of an early warning report (the "Early Warning Report") pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues regarding the acquisition of securities of the Issuer by Bullrun Capital Inc. (the "Acquiror"). The Acquiror is a private venture firm incorporated pursuant to the laws of the Province of British Columbia and is owned and controlled by Kulwant (Kal) Malhi, a director and Chairman of the Issuer, with a head office at 10589 Ladner Trunk Road, Vancouver, BC V4K 3N3. The Issuer's head office is located at Suite 1500-1055 West Georgia Street, Vancouver, BC V6E 4N7.

On March 14, 2025, Kulwant (Kal) Malhi, a director and Chairman of the Issuer, through the Acquiror, acquired 4,000,000 Shares in connection with an option agreement dated September 17, 2024 between the Issuer and the Acquiror pursuant to which the Issuer was granted an exclusive option to acquire a 100% interest in and to certain mining claims and a mining lease to which the Acquiror is the registered and beneficial owner (the "Transaction").

Prior to the Transaction, Mr. Malhi held, directly and indirectly, 3,876,246 Shares, and 251,000 common share purchase warrants, representing approximately 7.39% of the issued and outstanding Shares (on a non-diluted basis), and 7.86% of the issued and outstanding Shares (on a partially diluted basis), based on an aggregate of 52,485,815 issued and outstanding Shares prior to the closing of the Transaction.

Following the Transaction, Mr. Malhi held, directly and indirectly 7,876,246 Shares, and 251,000 common share purchase warrants, representing approximately 13.88% of the issued and outstanding Shares (on a non-diluted basis), and 14.32% of the issued and outstanding Shares (on a partially diluted basis), based on an aggregate of 56,735,815 issued and outstanding Shares following the closing of the Transaction.

The Acquiror acquired the Shares for investment purposes. The Acquiror may, depending on market and other conditions, increase or decrease its ownership of the Issuer's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

For further information, or to obtain a copy of the Early Warning Report filed under applicable securities laws, please contact:

Kulwant (Kal) Malhi
Telephone: 604-805-4602
Email: kal@bullruncapital.ca

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259375

FAQ

What is the new ownership percentage of LFLRF Chairman Kal Malhi after the transaction?

Following the transaction, Kal Malhi now owns 13.88% of shares (non-diluted) and 14.32% (partially diluted), up from 7.39% previously.

How many shares did Bullrun Capital acquire in LaFleur Minerals (LFLRF)?

Bullrun Capital acquired 4,000,000 shares of LaFleur Minerals through an option agreement dated September 17, 2024.

What is the total number of LFLRF shares outstanding after the transaction?

After the transaction, LaFleur Minerals has 56,735,815 shares outstanding, increased from 52,485,815 shares previously.

What was the purpose of LaFleur Minerals' share issuance to Bullrun Capital?

The shares were issued in connection with an option agreement granting LaFleur Minerals an exclusive option to acquire 100% interest in certain mining claims owned by Bullrun Capital.

Who controls Bullrun Capital Inc. in relation to LaFleur Minerals?

Bullrun Capital Inc. is owned and controlled by Kulwant (Kal) Malhi, who serves as director and Chairman of LaFleur Minerals.
LAFLEUR MINERALS INC

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