Anquiro Ventures updates concurrent financing

Vancouver, British Columbia--(Newsfile Corp. - July 30, 2026) - Anquiro Ventures Ltd. (TSXV: AQR.P) (" AQR " or the " Company ") is pleased to announce that it has closed its subscription receipt (" Subscription Receipts ") financing for gross proceeds of $335,000 through the issuance of 3,350,000 Subscription Receipts. Each Subscription Receipt issued by AQR will be converted, upon satisfaction of the Escrow Release Conditions (as defined below), into one unit (each, an " AQR SR Unit "), with each AQR SR Unit comprised of one AQR common share (each, an " AQR Share ") and one common share purchase warrant (each, an " AQR SR Warrant "). Each such AQR SR Warrant will be exercisable by the holder thereof for a period of three years after the date of its issuance to acquire one AQR Share at a price per share of $0.20.

The AQR SR Warrants are subject to a right to accelerate the expiry time of the warrants (the " SRW Acceleration Right "), whereby if the closing price of the AQR Shares exceeds $0.28 over a period of eight consecutive trading dates commencing four months from the date of the issuance of the AQR SR Warrants, then the Company may give notice in writing within 30 days of such occurrence to the holder of such AQR SR Warrant that the AQR SR Warrants shall expire at the accelerated expiry time, being 30 days from the date of the notice, unless previously exercised by the holder. Collectively, Black Pine Resources Corp. (" Black Pine ") and AQR have raised a total of $1,770,000 in gross proceeds under the previously announced concurrent financing (the " Concurrent Financing "). The portion of the proceeds of the Concurrent Financing raised by AQR through the issuance of the Subscription Receipts, and any interest earned thereon, will be held in escrow by the Subscription Receipt agent (the " SR Agent ").

Upon the satisfaction of the escrow release conditions, including receipt of TSX Venture Exchange (" TSXV ") approval (the " Escrow Release Conditions "), the SR Agent will release the proceeds to AQR. In the event the Escrow Release Conditions are not satisfied or waived prior to August 31, 2026 or such later date as may be agreed to, the Subscription Receipts will be cancelled and the escrowed funds will be returned to the subscribers of the Subscription Receipts. Finder's fees consisting of a cash commission totalling $9,500 and 95,000 non-transferable broker warrants (" Broker Warrants ") are payable upon satisfaction of the Escrow Release Conditions in connection with the issuance of the Subscription Receipts.

The Broker Warrants have the same terms as the AQR SR Warrants. All securities issued by AQR pursuant to the Concurrent Financing shall be subject to a four month and a day hold period in Canada. The net proceeds from the Concurrent Financing are intended to be used, upon the completion of the Transaction (as defined below), for the Phase 1 exploration program on the Sugarloaf Property (as defined below), Transaction costs, general and administrative expenses, and for working capital purposes.

The completion of the Concurrent Financing was a condition to the closing of the Company's proposed transaction with Black Pine pursuant to a merger agreement dated January 31, 2026 (as amended, the " Merger Agreement ") among AQR, Black Pine and 1504671 B.C. Ltd. (" AcquisitionCo "), a wholly-owned subsidiary of AQR, to be completed by way of a three cornered amalgamation (the " Transaction "). It is intended that the Transaction will constitute AQR's "Qualifying Transaction", as such term is defined in Policy 2.4 of the TSXV Venture Exchange (the " TSXV "), and upon and subject to completion of the Transaction, AQR is expected to change its name to "Black Pine Resources Corp." and trade on the TSXV under the symbol "BPR" as a Tier 2 mining issuer.

For further information on the Transaction, please refer to the filing statement dated May 14, 2026 filed on AQR's SEDAR+ profile at www.sedarplus.ca . Black Pine Black Pine was incorporated under the Business Corporations Act (British Columbia) on October 20, 2017, under the name "Digital Asset Management Corp." On February 23, 2021, Black Pine changed its name to "Black Pine Resources Corp.". Black Pine is a mineral exploration company focused on the acquisition and exploration of mineral properties.

Pursuant to an agreement dated April 12, 2022 (the " Property Agreement "), as amended, with Great Basin Resources Inc. (" GBR "), Black Pine is entitled to earn an undivided 100% interest in the Sugarloaf Copper Project (the " Sugarloaf Property "), subject to a 2% net smelter royalty due to GBR and certain other payments due to GBR, as provided in the Property Agreement. Anquiro Ventures Ltd. AQR was incorporated under the Business Corporations Act (British Columbia) on March 1, 2012, and is a Capital Pool Company (as such term is defined in TSXV Policy 2.4) listed on the TSXV. AQR has no commercial operations and no assets other than cash.

Trading in the common shares of AQR is currently suspended in accordance with the policies of the TSXV and will remain suspended until such time as all required documentation in connection with the Transaction has been filed with and accepted by the TSXV and permission to resume trading has been obtained from the TSXV. Completion of the Transaction is subject to a number of conditions and there can be no assurance that the Transaction will be completed as proposed or at all. Further Information For further information, please contact: Anquiro Ventures Ltd. 595 Howe Street, Suite 303, Vancouver, British Columbia V6C 2T5 Canada Contact: Keturah Nathe, CEO, President and Director Telephone: 604 718-2800 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. Investors are cautioned that, except as disclosed in the filing statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

Trading in the securities of the Company should be considered highly speculative. The TSXV has in no way passed upon the merits of the Transaction and has not approved or disapproved of the contents of this news release. Cautionary Note Regarding Forward-Looking Information This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance.

Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the closing of the Transaction, the exercise of the Subscription Receipts, the satisfaction of the Escrow Release Conditions, the resumption of trading of the Company's common shares and final approval from the TSXV for the Transaction. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management of AQR's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although AQR believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company.

Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Transaction; the ability to obtain requisite regulatory and other approvals and the satisfaction of other conditions to the consummation of the Transaction on the proposed terms; the potential impact of the announcement or consummation of the Transaction and/or the Concurrent Financing on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; risks relating to epidemics or pandemics, including changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Transaction and/or the Concurrent Financing. This forward-looking information may be affected by risks and uncertainties in the business of the Company and Black Pine and market conditions. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although AQR has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. AQR does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307325 Newsfile Corp. July 30, 2026 - 12:10 PM PDT News by QuoteMedia www.quotemedia.com