VANCOUVER, BC, Aug. 24, 2023 /CNW/ – Mr. Frank Giustra announces that he has filed an early warning report (the “Early Warning Report“) in respect of the disposition (the “Disposition“) of 4,000,000 common shares (“Common Shares“) in the capital of Mich Resources Ltd. (the “Company“) through private transactions. Each Common Share was sold at a price of $0.03 for aggregate consideration of $120,000. The Common Shares of the Company are listed on the Canadian Securities Exchange under the symbol MICH.X.

Prior to the Disposition, Mr. Giustra beneficially owned, directly or indirectly, and exercised direction or control over 6,780,000 Common Shares, and options to purchase 250,000 Common Shares (the “Options“) representing approximately 16.08% of the Company’s issued and outstanding Common Shares, assuming full exercise of the Options.

Following completion of the Disposition, Mr. Giustra beneficially owns, directly or indirectly, and exercises direction or control over 2,780,000 Common Shares, and 250,000 Options representing approximately 6.93% of the Company’s issued and outstanding Common Share, assuming full exercise of the Options. The Disposition represents an overall decrease in shareholdings of 9.15% on a partially diluted basis.

The Disposition was made solely for investment purposes and Mr. Giustra may, from time to time, take such actions in respect of its holdings in securities of the Company as it may deem appropriate in light of the circumstances then existing, including (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of the Company or securities exercisable for, or convertible or exchangeable into, securities of the Company, and (ii) developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of Form 62-103F1 – Required Disclosure under the Early Warning Requirements.

This news release is being issued pursuant to sections 5.1 and 5.2 of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of the Early Warning Report dated August 24, 2023. The Early Warning Report has been filed on SEDAR+ (www.sedarplus.ca) under the Company’s profile. To obtain a copy of the Early Warning Report, please contact Gord Keep at the address below, or refer to SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.

The address of the Company is Suite 3123 – 595 Burrard Street, Vancouver, BC  V7X 1J1.

The address of Mr. Giustra is 3123 – 595 Burrard Street, Vancouver, BC  V7X 1J1.

“Frank Giustra”
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FRANK GIUSTRA

SOURCE Frank Giustra