July 26, 2016 10:53 PM ET

Metals and Mining

Company Overview of PNO Resources Ltd

Company Overview

PNO Resources Ltd. engages in the acquisition and exploration of natural resource properties. The company was formerly known as Prescient Neuropharma Inc. and changed its name to PNO Resources Ltd. in February 2012. The company was founded in 1983 and is based in Vancouver, Canada. As of September 11, 2015, PNO Resources Ltd operates as a subsidiary of Sandspring Resources Ltd.

1066 West Hastings Street

Suite 2610

Vancouver, BC V6E 3X1

Canada

Founded in 1983

Key Executives for PNO Resources Ltd

President, Director and Member of Audit Committee
Chief Financial Officer and Secretary
Age: 62
Compensation as of Fiscal Year 2016.

PNO Resources Ltd Key Developments

Sandspring Resources Appoints Jeremy Crichton as Chief Financial Officer and Rhylin Bailie as Vice-President Communications and Investor Relations

Sandspring Resources Ltd. and PNO Resources Ltd. announced completion of the previously announced acquisition by Sandspring of PNO by way of a court approved plan of arrangement. Completion of the acquisition has brought the capital required to advance Sandspring's Toroparu Gold Project in the near term, while also expanding the expertise of Sandspring's management team and board of directors. The board of directors of Sandspring now comprises Messrs. John Adams, Suresh Beharry, Greg Barnes, David Constable and Richard Munson as representatives of Sandspring, and Messrs. Frank Giustra, Harry Pokrandt and David Laing as representatives of PNO. Richard Munson will continue as Chief Executive Officer, Jeremy Crichton has been appointed Chief Financial Officer and Rhylin Bailie has been appointed Vice-President Communications and Investor Relations.

PNO Resources To Be Delisted From TSX-V

Sandspring Resources Ltd. and PNO Resources Ltd. announced completion of the previously announced acquisition by Sandspring of PNO by way of a court approved plan of arrangement. Sandspring now has 82,519,545 shares issued and outstanding, with 29,284,008 warrants and 3,859,916 options for a total of 115,663,469 shares outstanding on a fully diluted basis. The PNO Shares are scheduled to be delisted from the TSX Venture Exchange (“TSX-V”) at market close on September 14, 2015. Sandspring Post-Consolidation Shares will commence trading, after giving effect to the Acquisition and Consolidation, on the TSXV at market open on September 15, 2015.

PNO Resources To Be Delisted From TSXV

Sandspring Resources Ltd. and PNO Resources Ltd. announced that they have entered into a binding letter agreement dated as of July 2, 2015 (the “Letter Agreement”) providing for the acquisition (the “Acquisition”) by Sandspring of PNO by way of a three-cornered amalgamation. The Acquisition is subject to the satisfaction or waiver of certain customary closing conditions. Following the Acquisition, Sandspring will continue to trade on the TSX Venture Exchange (“TSXV”) and PNO will be delisted.

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