New Risk • Feb 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 310% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-CA$801k). Shareholders have been substantially diluted in the past year (310% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.23m market cap, or US$1.64m). Announcement • Feb 11
Metalite Resources Inc. announced that it has received CAD 0.7351 million in funding On February 10, 2026, Metalite Resources Inc. closed the transaction. Company paid aggregate cash finder's fees of CAD 12,960 and
issued 86,400 broker warrants. Certain insiders of the Company participated in the Private Placement, subscribing for a total of 133,333 Units for gross proceeds of CAD 20,000 Announcement • Jan 21
Metalite Resources Inc. announced that it expects to receive CAD 0.465 million in funding Metalite Resources Inc. announced a private placement of 3,100,000 units of the Company at a price of CAD 0.15 per Unit, for aggregate gross proceeds of up to CAD 465,000 on January 20, 2026. The transaction is expected to involve participation from certain insiders of the Company to participate in the Private Placement as "related party transaction" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The transaction is expected to close with the ability to further upsize at the Company’s sole discretion subject to the approval of the Canadian Securities Exchange. Each Unit will be comprised of one common share and one-half of one Common Share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share, for a period of two years after the issuance of the Warrant at a price of CAD 0.25. If the closing price of the Shares on the exchange on which the Common Shares are listed is at or above $0.50 per Common Share for a period of ten (10) consecutive trading days, the Company will have the right to accelerate the expiry date of all or part of the then outstanding Warrants. If the Corporation elects to exercise this right, it may provide written notice to the Warrant holders, and the Warrants shall thereafter expire thirty (30) days following the date of such notice. This acceleration provision will not be exercisable prior to four months and one day after the date of issuance of the Warrants. All securities issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws. The Private Placement will be subject to customary closing conditions, including approval by the CSE. 
