Asarian Energy grants performance share units to John Borshoff
Perth, Australia--(Newsfile Corp. - August 14, 2026) - In accordance with regulatory requirements, Aylworth Holdings Pty Ltd as trustee for the J and RD Borshoff Family Trust (the " Acquiror "), being the nominee entity of Scomac Management Services Pty Ltd, as trustee for the Scomac Unit Trust, being the entity through which Mr. John Borshoff, President, CEO and a Director of Asarian Energy Limited (formerly Forsys Metals Corp.) (the " Issuer "), provides consultancy services to the Issuer, announces the grant of 30,000,000 performance share units (" PSUs ") of the Issuer pursuant to a performance share unit award agreement with the Issuer dated August 13, 2026 (the " Agreement "). The PSUs are divided into three categories: 2,500,000 sign-on PSUs and 7,500,000 retention PSUs, which vest over a period of up to three years from June 14, 2026 (the " Commencement Date "), and 20,000,000 incentive PSUs, which vest upon the achievement of specified share price and market capitalization milestones within three years of the Commencement Date. In the event that the applicable vesting conditions in respect of the PSUs are satisfied and the PSUs are settled in the Issuer's Class A common shares (" Common Shares "), up to 30,000,000 Common Shares would be issuable to the Acquiror. The grant of PSUs was conditional upon, and did not become effective until, the receipt of disinterested shareholder approval, obtained July 31, 2026, and the approval of the Toronto Stock Exchange, obtained August 13, 2026.
Immediately prior to the grant of PSUs described in this news release, the Acquiror did not own or exercise control or direction over any Common Shares. Following the grant of PSUs, the Acquiror now beneficially owns or exercises control or direction over nil Common Shares and 30,000,000 PSUs, representing 0% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and 10.92% of the issued and outstanding Common Shares of the Issuer on a partially diluted basis, assuming the full settlement of the PSUs held by the Acquiror only.
The PSUs were granted to the Acquiror as compensation in connection with Mr. Borshoff's appointment as President, Chief Executive Officer and Executive Director of the Issuer. The Acquiror and Mr. Borshoff may in the future, subject to regulatory constraints, take such actions in respect of their holdings of securities of the Issuer as they may deem appropriate in light of the circumstances then existing, including the purchase of additional securities of the Issuer through open market purchases or privately negotiated transactions or the sale of all or a portion of their securities of the Issuer in the open market or in privately negotiated transactions to one or more purchasers. The Acquiror does not have any current plans or future intentions which relate to or would result in any of the events, transactions or circumstances enumerated in paragraphs (a) - (k) in the early warning report filed with this news release (the " Early Warning Report ").
This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an Early Warning Report. A copy of the Early Warning Report filed by the Acquiror in connection with the acquisition will be available under the Issuer's profile on the SEDAR+ website at www.sedarplus.ca . For more information, or for a copy of the Early Warning Report filed by the Acquiror, please contact the Acquiror at: +61 419 912 571.
The head office address of the Issuer is located at 20 Adelaide St. East, Suite 200, Toronto, Ontario M5C 2T6
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309631
Newsfile Corp.
August 13, 2026 - 11:28 PM PDT
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