Alma Gold announces reverse stock split

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Vancouver, British Columbia – TheNewswire – June 27, 2022 – Alma Gold Inc. (“Alma Gold“or the”Company“) (CSE: ALMA) announces that, pursuant to the directors’ resolutions, the Company will consolidate all of its issued and outstanding share capital (the “Ordinary actions“) on the basis of ten (10) old ordinary shares into one (1) new ordinary share (the “Consolidation of shares“), effective July 4, 2022 (the “Registration Date“).

Following the reverse stock split, the number of common shares issued and outstanding will be reduced to approximately 6,774,562. Any fractional common shares remaining after giving effect to the reverse stock split will be cancelled. The exercise or conversion price and the number of common shares issuable under any outstanding convertible security of the Company will be adjusted proportionately upon the reverse stock split.

New ISIN: CA02009L2093

New CUSIP: 02009L209

The common shares are expected to begin trading after the stock consolidation on the Canadian Securities Exchange at the opening of trading on June 30, 2022.

Shareholders of record on the Record Date will receive a Letter of Transmittal containing instructions to exchange their Common Shares as soon as practicable after the Record Date.

The Company believes that the Consolidation will make the Company more attractive for financing opportunities and allow for the restructuring and settlement of certain existing liabilities. Completion of the Combination remains subject to the completion of appropriate regulatory filings with the Canadian Securities Exchange.

About Alma Gold Inc.

Alma Gold Inc. is a gold-focused exploration company based in Bedford, Nova Scotia. Alma Gold Inc., through its subsidiary Karita Gold Corp., explores the Karita West project in northern Guinea and owns the Clarence Stream North Gold project in southwestern New Brunswick, Canada.

For more information about Alma Gold Inc., please visit our website at: https://almagoldinc.com.

On behalf of the Board of Directors

“Greg Isenor”

Gregory Isenor

President and CEO

Alma Gold Inc.

E-mail: [email protected]

CSE has neither approved nor disapproved of the contents of this press release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

This press release contains forward-looking information that does not consist of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words , or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results and opportunities to differ. materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of the equity markets and indebtedness, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and include those risks set forth in the report. management report of the Company as filed under the Company’s profile at www.sedar.com. The forward-looking information contained in this press release is based on management’s beliefs and assumptions considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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