Ann: Vital to Transform into Rare Earth Oxide Developer, page-11

Great deal.. IMO, this should quickly climb to $100M MC just based on :

1) Current MC only $23M which is way below any Peer comparisons. LYC $1.23B
2) Cash backing. They have $15M cash and MC just on cash backing. No CR for a long time..
3) The mines in very investor friendly jurisdictions especially to the US and Australia.

• Thor Lake Rare Earth Project (Canada) (acquire 100%, surface to 150m above sea level rights) ▪ Mining leases, environmental and water approvals granted  ▪ Environmental permit and water licence in progress ▪ NI 43-101 defined Indicated and Inferred Resource ▪ The Nechalacho Property, of which the Thor Lake Project is a part has been the subject of over $100M investment by Avalon Advanced Materials   ▪ Exploration potential to increase resource however initial focus will be on its high grade core • Wigu Hill Project in (Tanzania) (purchase of rare earths Intellectual Property with project development and option agreement to acquire up to 74% by funding to a mining stage)  ▪ NI 43-101 defined resource with significant upside potential from identified mineralised zones  ▪ Mining and Prospecting Licence application submitted with local company  • Transaction fully funded by Vital (cash on hand of $14.6 million as at March 31 2019)