Moon River Moly Ltd. Provides Early Warning Disclosure

Rhea-AI Summary

Moon River Moly (OTCQB: MRIVF; TSXV: MOO) filed an early warning disclosure reporting changes to Ian McDonald’s holdings. McDonald’s position moved through option vestings, a September 15, 2025 issuance that diluted his stake, and a February 26, 2026 private placement purchase of 776,470 units at $0.85 each.

After these events, McDonald beneficially owned 3,720,470 common shares, 600,000 options exercisable within 60 days, and 388,235 warrants, representing ~9.9% non-diluted and ~12.22% partially diluted ownership as of February 27, 2026.

AI-generated analysis. Not financial advice.

Positive

• McDonald increased stake via private placement of 776,470 units @ $0.85
• Post-transactions holdings include 3,720,470 common shares
• Reported transparency: early warning filed under applicable Canadian rules

Negative

• Partially diluted ownership rose to approximately 12.22%, approaching control thresholds
• Existing options and warrants add potential future dilution if exercised

Toronto, Ontario--(Newsfile Corp. - May 8, 2026) - Moon River Moly Ltd. (TSXV: MOO) (OTCQB: MRIVF) ("Moon River" or the "Company") - announces that an early warning report has been filed in respect of Mr. Ian McDonald's ("McDonald") holdings of the Company.

On November 15, 2023, McDonald was granted 600,000 stock options ("Options") to purchase common shares of the Company ("Common Shares"), 200,000 of which vested immediately and an additional 200,000 vested on each of the first and second anniversaries of the grant date.

Immediately prior to the Option Vesting (as defined below), McDonald had beneficial ownership of, or control or direction, over 2,944,000 Common Shares and 200,000 Options which had vested or will vest within 60 days of such date, pursuant to previously issued Options by the Company, representing approximately 8.93% of the issued and outstanding Common Shares on a non-diluted basis (approximately 9.42% of the issued and outstanding Common Shares on a partially diluted basis).

On September 16, 2024, 200,000 of the Options had already vested and another 200,000 would vest within 60 days of such date. Accordingly, as of such date, McDonald had beneficial ownership of (within the meaning of National Instrument 62-104 - Take-Over Bids and Issuer Bids), or control or direction over, 2,944,000 Common Shares and 400,000 Options (the "Option Vesting"). After giving effect to the Option Vesting, McDonald had beneficial ownership of, or control or direction over, approximately 8.9% of the then issued and outstanding Common Shares on a non-diluted basis (approximately 10.02% of the then issued and outstanding Common Shares on a partially diluted basis).

On September 15, 2025, the Company issued 336,280 Common Shares from treasury (the "Issuance"). Following the Issuance, the resulting beneficial ownership of McDonald in respect of the Common Shares and securities convertible into Common Shares, fell below 10% of the issued and outstanding Common Shares on a partially diluted basis, as McDonald had beneficial ownership of, or control or direction over, approximately 8.78% of the then issued and outstanding Common Shares on a non-diluted basis (approximately 9.92% of the then issued and outstanding Common Shares on a partially diluted basis) (the "Dilution"). The Dilution arose solely as a result of the Issuance without any action being taken by McDonald.

Subsequently, on September 16, 2025, due to the impending vesting within 60 days of an additional 200,000 previously granted Options, McDonald had beneficial ownership of, or control or direction over, 2,944,000 Common Shares and 600,000 Options (the "Second Option Vesting"). After giving effect to the Second Option Vesting, McDonald had beneficial ownership of, or control or direction over approximately 8.78% of the then issued and outstanding Common Shares on a non-diluted basis (approximately 10.46% of the then issued and outstanding Common Shares on a partially diluted basis).

More recently, on February 26, 2026, McDonald acquired 776,470 units of the Company ("Units") at a price of $0.85 per Unit, pursuant to a private placement offering (the "Acquisition", and collectively with Option Vesting and Second Option Vesting, the "Acquisitions"). Each Unit consisted of one Common Share and one half of one Common Share purchase warrant ("Warrant"). Each Warrant is exercisable to acquire one Common Share at a price of $1.15 per Common Share for a period of 24 months, provided that the Warrants could not be exercised until April 27, 2026.

After giving effect to the Acquisitions and the Issuance, as of February 27, 2026, McDonald had beneficial ownership of, or control or direction over, 3,720,470 Common Shares, 600,000 Options exercisable within 60 days and 388,235 Warrants, representing approximately 9.9% of the issued and outstanding Common Shares on a non-diluted basis (approximately 12.22% of the issued and outstanding Common Shares on a partially diluted basis).

This news release is being issued pursuant to 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. Persons who wish to obtain a copy of the early warning report filed by the Company, on behalf of McDonald, may obtain a copy of such report from www.sedarplus.ca or by contacting the Company.

McDonald acquired the securities of the Company for investment purposes and may, depending on the market and other conditions, increase, decrease or change his beneficial ownership over the Common Shares or other securities of the Company through market transactions, private agreements, treasury issuances, exercises of convertible securities or otherwise.

A copy of the early warning report with respect to the foregoing will appear on the Company's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by contacting the Company at (416) 800-1753 or info@moonrivermoly.com.

About Moon River

Moon River is a Canadian-based resource company focused on the acquisition, exploration and development of mineral projects. Moon River is focused on the development of the Davidson Property which hosts a large molybdenum-tungsten deposit and is located near Smithers, British Columbia. The Company also holds 25% of one of the largest molybdenum mines in North America, the Endako Mine Complex also located in British Columbia.

For further information, please contact:

Paul Parisotto, President, Chief Executive Officer and Director, at (416) 800-1753 or info@moonrivermoly.com.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296765

FAQ

What did Moon River Moly disclose about Ian McDonald’s holdings (MRIVF) on May 9, 2026?

The company disclosed an early warning reporting McDonald’s position after option vestings and a private placement purchase. According to the company, his holdings totaled 3,720,470 common shares, 600,000 options exercisable within 60 days, and 388,235 warrants as of February 27, 2026.

How many units did Ian McDonald buy in Moon River Moly’s February 26, 2026 private placement (MRIVF)?

McDonald acquired 776,470 units at $0.85 per unit in the private placement. According to the company, each unit included one common share and one-half warrant, with warrants exercisable at $1.15 until April 27, 2028.

What percentage of Moon River Moly did McDonald own after the February 2026 transactions (MRIVF)?

After the transactions, McDonald held about 9.9% on a non-diluted basis and ~12.22% on a partially diluted basis. According to the company, those figures reflect common shares, options exercisable within 60 days, and outstanding warrants.

Did any Moon River Moly share issuance affect McDonald’s ownership level (MRIVF)?

Yes. A September 15, 2025 issuance of 336,280 common shares diluted McDonald’s partially diluted stake below 10%. According to the company, that Issuance reduced his percentage solely by increasing the company’s issued shares from treasury.

Are McDonald’s options and warrants exercisable immediately and could they change his MRIVF ownership?

Some options were exercisable within 60 days and warrants became exercisable after April 27, 2026, which could increase his ownership if exercised. According to the company, outstanding convertible securities create potential additional dilution upon exercise.