Sun Summit Lists Warrants on the TSXV

Rhea-AI Summary

Sun Summit (TSXV: SMN / OTCQB: SMREF) announced that up to 102,583,760 common share purchase warrants have been accepted for listing on the TSX Venture Exchange and will trade as SMN.WT starting at market open on February 27, 2026.

The Warrants were issued in a non-brokered private placement closed May 30, 2025 that raised gross proceeds of $10,142,345. Each Warrant converts to one common share at $0.11 until May 30, 2027. Holders will receive DRS statements and may deposit warrants with brokers to facilitate trading.

Positive

• Warrants listed for trading on TSXV as SMN.WT from Feb 27, 2026
• Private placement raised $10,142,345 gross proceeds on May 30, 2025
• Each Warrant converts to one share at $0.11 until May 30, 2027

Negative

• Potential dilution of 102,583,760 shares if all warrants are exercised

Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - Sun Summit Minerals Corp. (TSXV: SMN) (OTCQB: SMREF) ("Sun Summit" or the "Company") is pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted for listing up to 102,583,760 common share purchase warrants of the Company (the "Warrants") for trading on the TSXV. The Warrants are expected to commence trading on the TSXV at the open of markets on February 27, 2026 under the trading symbol "SMN.WT".

The Warrants were issued pursuant to a non-brokered private placement (the "Private Placement") of the Company closed on May 30, 2025, pursuant to which the Company issued: (i) 40,868,432 charity flow-through units of the Company (each, a "Charity FT Unit") at a price of $0.105 per Charity FT Unit; (ii) 33,832,770 flow-through units of the Company (each, a "FT Unit") at a price of $0.075 per FT Unit; and (iii) 47,338,602 non-flow-through units (each, an "NFT Unit") at a price of $0.07 per NFT Unit, for aggregate gross proceeds to the Company of $10,142,345, representing a partial exercise of the Company's over-allotment option. For more information about the Private Placement, please refer to the Company's news release dated June 2, 2025, which is available under the Company's SEDAR+ profile at www.sedarplus.ca.

Each Warrant entitles the holder thereof to purchase one common share in the capital of the Company at a price of $0.11 per common share until May 30, 2027. The Warrants are governed by the terms of a Warrant Indenture (the "Warrant Indenture") dated February 26, 2026 between the Company and Computershare Trust Company of Canada (the "Warrant Agent") as warrant agent, a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca. For further details regarding the Warrants, please refer to the Warrant Indenture.

No action is required by holders of Warrants as a result of this listing of the Warrants. Holders of Warrants will receive DRS statements from the Warrant Agent representing the re-issued Warrants under the Warrant Indenture, which shall bear the CUSIP of the listed Warrants, and may be deposited with the holder's broker in order to facilitate trading their Warrants on the TSXV. Holders may exercise their Warrants at any time prior to the expiry thereof, by delivering a completed and executed copy of the exercise notice, together with payment of the aggregate exercise price, to the Warrant Agent. The exercise notice is available to holders of Warrants on request from the Warrant Agent, from their respective brokers, or from the Warrant Indenture, a copy of which is available under the Company's SEDAR+ profile at www.sedarplus.ca.

About Sun Summit

Sun Summit Minerals (TSXV: SMN) (OTCQB: SMREF) is a mineral exploration company focused on the discovery, expansion and advancement of district scale gold and copper assets in British Columbia. The Company's diverse portfolio includes the JD and Theory projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

On behalf of the board of directors

Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com

For further information, contact:

Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things, the anticipated timing of the commencement of trading of the Warrants on the TSXV.

Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Sun Summit cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Sun Summit nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Sun Summit does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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/285285

FAQ

When will Sun Summit (SMREF) warrants start trading on the TSXV?

They will begin trading at market open on February 27, 2026. According to the company, the listed Warrants will trade under the symbol SMN.WT, and holders will receive DRS statements to facilitate broker deposit and trading.

How many warrants does Sun Summit (SMREF) have listed and what is the exercise price?

Up to 102,583,760 warrants are listed with an exercise price of $0.11 per share. According to the company, each Warrant entitles the holder to one common share until May 30, 2027.

What were the proceeds from Sun Summit's private placement related to the listed warrants?

The non-brokered private placement raised gross proceeds of $10,142,345. According to the company, the financing closed on May 30, 2025 and comprised charity FT, FT, and NFT units.

How can holders of Sun Summit (SMREF) warrants exercise their warrants?

Holders may exercise by submitting a completed exercise notice and payment to the Warrant Agent before expiry. According to the company, the notice and payment must be delivered to the Warrant Agent to obtain common shares.

When do Sun Summit (SMREF) warrants expire and who is the warrant agent?

Warrants expire on May 30, 2027 and are governed by a Warrant Indenture dated February 26, 2026. According to the company, Computershare Trust Company of Canada acts as the Warrant Agent.