(TSX – V : GMI) (GDMIF. : OTCM)

QUEBEC CITY, June 27, 2024 (GLOBE NEWSWIRE) — Listed on the TSX Venture Exchange, Green Mining Innovation Inc. (TSX-V : GMI) announces that trading of its securities has been halted by the British Columbia Securities Commission due to the delay in filing its annual financial statements for the fiscal year ended December 31, 2023, within the prescribed time period.

Consequently, all transactions involving GMI securities are prohibited until further notice, in accordance with the terms of the cease trade order. With the resources and expertise at its disposal, GMI will be able to implement the necessary corrective measures very soon to properly address this issue.

This situation results from a cyber attack that the organization fell victim to, which led to the loss and deletion of several documents, including important financial records. Since then, our technical team, with the assistance of IT experts, has been working tirelessly to recover this essential data and reconstruct the company’s entire data set affected by this cyber attack.

GMI announces Changes in Organizational Structure

• End of Mr. Louis Marcoux’s interim mandate as Chairman of GMI’s Board of Directors on May 20, 2024;
• Appointment of Mr. André Gagné as Chairman of GMI’s Board of Directors on May 20, 2024;
• Termination of Mr. Pierro Chicoine, IT and Productivity Manager, on January 24, 2024;
• On May 8, Mr. Luc Dubé, as Chief Financial Officer, informed us of his resignation offer. The members of the Board of Directors accepted his resignation on May 20 during the Board of Directors meeting. Mr. Jacques Tremblay was named Chief Financial Officer and Corporate Secretary by the same Board of Directors;
• Appointment of Mrs Stéphanie Lehoux as Director of Governance and Organizational Development (DGDO) on May 20, 2024;
• Mrs Elisa Denise Turcot joined GMI’s Board of Directors as a member on May 20, 2024.

Update concerning the stock options of GMI allocated in accordance with the option plan in force

• Mr. Daniel Bélisle: The 500,000 stock options granted to Mr. Daniel Bélisle on September 25, 2023, were canceled by the resolution of December 5, 2023;
• BF Capital Croissance Inc.: Management intends to retain the services of BF Capital Croissance Inc., represented by Mr. Daniel Bélisle. As stipulated in the agreement signed on February 26, GMI plans to grant 500,000 stock options to BF Capital Croissance Inc. These stock options will be granted to them on Wednesday, June 5, 2024. The holder, BF Capital Croissance Inc., may exercise its acquisition right upon the granting of the stock options at a price of $0.10 per unit for a period of 5 years, in accordance with the terms of the stock option plan in effect. Dated as of today, the contract proposal has been submitted to the Board of Directors and approved without delay;
• The 200,000 stock options granted to Mr. Pierro Chicoine are no longer valid since the end of February 2024;
• The 250,000 stock options granted to Mr. Alexandru Arhire are no longer valid since the end of February 2024.

GMI’s vision and values bring an ecological, innovative, and sustainable approach to all its activities. Today, we can confirm the completion of the transition with Goldstar Minerals Inc.

For more information, [email protected]
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Disclaimer“ Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.” This press release contains “forward-looking information” within the meaning of applicable securities laws. This information is based on the current expectations, estimates, forecasts, and projections of the management of Green Mining Innovation Inc. Statements about future projects, including their environmental impact, profitability and production expectations, are forward-looking information. Although the Company believes that the expectations expressed in this forward-looking information are based on reasonable assumptions, this information is not a guarantee of future performance, and current results or realities may materially differ from those anticipated in the forward-looking information. Any investment in the company carries risks that should be independently assessed by each investor. Green Mining Innovation Inc. assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/29eacb34-4ac6-4564-9e96-64eab94c076f

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