New Risk • Mar 04
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 0.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.52m market cap, or US$4.04m). Announcement • Jan 21
Totec Resources Ltd. (TSXV:TOTC.P) completed the acquisition of 240 claims of White Willow Pegmatite Property located in Atikok, Ontario of Usha Resources Ltd. Totec Resources Ltd. (TSXV:TOTC.P) entered into a share purchase agreement to acquire 240 claims of White Willow Pegmatite Property located in Atikok, Ontario of Usha Resources Ltd. on October 22, 2025. As part of consideration, CAD 0.05 million will be paid in cash, 5.5 million common shares of Totec Resources Ltd. to be issued to Usha Resources Ltd. The White Willow Property is subject to net smelter return royalties of 3.0% and 1.5%, portions of which may be purchased for CAD 1.3 million and CAD 1 million respectively.
The transaction is subject to regulatory and TSX Venture Exchange approval, completion of a concurrent financing of at least CAD 1 million, and other customary conditions.
Totec Resources Ltd. (TSXV:TOTC.P) completed the acquisition of 240 claims of White Willow Pegmatite Property located in Atikok, Ontario of Usha Resources Ltd. on January 20, 2026. New Risk • Dec 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 21% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). High level of non-cash earnings (26% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.68m market cap, or US$2.67m). 
