Pershimex Resources Corporation - Update on Merger Transaction With Abcourt

VAL-D'OR, Quebec, Feb. 23, 2023 -- Pershimex Resources Corp. ("Pershimex" or the "Corporation") (TSX GROWTH: PRO) would like to provide a corporate update regarding the transaction with Mines Abcourt inc.

The Board of Directors reviewed the progress of Abcourt's steps on the state of its financing to allow the conclusion of the merger approved by the shareholders of Pershimex on December 27th 2022. The difficult and exceptional financial circumstances, affecting the Canadian capital markets and more specifically the mining industry, require an extension of the deadline for closing the merger by 60 days.

Noting that Abcourt's sustained efforts to enable the merger between the companies to be completed as quickly as possible, Abcourt's assurance and renewed support that Pershimex's current plans and Pershimex's financial structure are in the interests of 'Abcourt to be promoted and protected, the Board of Directors of Pershimex has expressed its support and has approved to extend the deadline for closing the merger by 60 days from the date hereof.

About Pershimex Resources Corporation

Pershimex Resources Corp. is a mining exploration and development corporation with projects located primarily in the Abitibi region of Québec, Canada, focusing on the discovery and development of high-grade gold deposits.

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