North Peak Resources

Interbit holding virtual-only annual and special meeting in connection with proposed change of business transaction

19 May 2020

INTERBIT LTD. (TSX Venture: IBIT) (the “Company”) announces that its Annual and Special Meeting (the “Shareholders”) for holders (the “Shareholders”) of its common shares (“Common Shares”) is to be held on Wednesday, June 24, 2020 at 9:00 a.m. (Calgary time) / 11:00 a.m. (Toronto time). Due to the uncertain public impact of the coronavirus outbreak (COVID-19) and in consideration of the health and safety of Shareholders and the broader community, this Meeting will be held in a virtual meeting format only, by way of a live webcast. Shareholders will be able to listen, participate and vote at the Meeting in real time through a web-based platform instead of attending the Meeting in person.

Amongst annual meeting matters, at the Meeting, Shareholders will be asked to consider the recently proposed “Change of Business” transaction (“COB Transaction”) of the Company with the result that the Company will become a Tier 2 mining issuer on the TSX Venture Exchange, and a related consolidation and name change.

“The Company is proposing this “Change of Business” to the mining sector in an effort to maximize shareholder value and deliver exceptional returns to our Shareholders over the next 3-5 years by taking advantage of the unique set of circumstances that management and the Board expects will develop in the gold and other metals markets resulting from government responses to current challenges through the issuance of debt and printing of money,” said Brian Hinchcliffe, Executive Chairman and CEO of the Company. “Management is very experienced in the mining sector and has previously acquired and developed mining assets in times of geopolitical opportunity.”

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