Philippine Metals Announces Proposed Acquisition of Revolve Renewable Power Limited

Vancouver, BC, June 24, 2021 – Philippine Metals Inc. (“PMI” or the “Company”) is pleased to announce that it has entered into a letter of intent dated June 16, 2021 with Revolve Renewable Power Limited (“Revolve”) pursuant to which the parties will, inter alia, negotiate a plan of arrangement agreement whereby PMI will acquire all of the outstanding shares of Revolve in exchange for shares of PMI (the “Acquisition”). The Acquisition will constitute a reverse takeover (“RTO”) under the policies of the TSX Venture Exchange (the“TSXV”) and is an arm’s length transaction. All currency figures quoted herein are in Canadian dollars unless stated otherwise.

PMI News Release – Revolve RTO Final