Velox to Extend Warrants

Vancouver, British Columbia, October 8, 2024 – Velox Energy Materials Inc. (TSXV: VLX) (“Velox” or the “Company”) announces that it intends to extend the term of an aggregate of 13,715,281 post-consolidation common share purchase warrants (the “Warrants”) issued as part of the Company’s private placement that closed on October 14, 2022. Post-consolidation, the Warrants are exercisable at a price of $0.144 and currently expire on October 14, 2024, as announced in the consolidation news release dated August 13, 2024.  

Subject to the approval of the TSX Venture Exchange (the “Exchange”), the term of the Warrants will be extended to December 31, 2024. All other terms of the Warrants will remain the same.