Quinto Resources Provides Corporate Updates and Announces Reinstatement of Trading and AGM

Quinto Resources Provides Corporate Updates and Announces Reinstatement of Trading and AGM

MONTRÉAL, Aug. 27, 2026 /CNW/ -- Quinto Resources Inc. (the "Company" or "Quinto") (TSXV: QIT), further to its press release dated July 21^st, 2026 announcing the revocation of cease trade order issued to the Company on June 7, 2023, is pleased to announce the following corporate updates:

TSX Venture Exchange Reinstatement

The common shares of the Company (the "Shares") were transferred to the NEX on October 28, 2021 as the Company did not meet the listing requirements for a Tier II listed company on the TSX Venture Exchange (the "TSXV"). The Company has applied for and been actively working to advance its reinstatement onto the NEX Board. The Company is pleased to announce that trading of the Company's Shares on the NEX Board to be reinstated shortly.

Annual General and Special Meeting

The Company's last annual general meeting of shareholders was held on December 18, 2018. The Company was therefore deficient in compliance with the requirement to hold an annual general meeting of shareholders as prescribed by the Canada Business Corporations Act ("CBCA"). The Company has scheduled an annual general and special meeting of the shareholders of the Company on September 16, 2026 (the "AGSM"), pursuant to CBCA and TSXV's policies. Additional disclosures on the AGSM will be provided in due course, and the proxy materials of the AGSM will be available under the Company's profile on SEDAR+ at www.sedarplus.ca. The Company will be placed on a 90-day TSXV notice to hold the AGSM of non-compliance due to these deficiencies, pursuant to Exchange Policy 3.2, section 4.1. Failure to remedy these deficiencies within this timeline may result in a TSXV trading halt without further notice.

Management

One June 8, 2026, Michael Curtis, former director, President and CEO resigned from the Company and, effective as of the same date, Jean Lafleur, has agreed to fill the vacancy created thereby to serve as a director, President and CEO of the Company. The board of directors also appointed Jean-François Perrault as a new director of the Company effective as of June 8, 2026.

The current board of directors of the Company is comprised of Marcel Bergron, Philippe Frère, Jean Lafleur and Jean-François Perrault. The Company's current senior officers are Jean Lafleur, President and Chief Executive Officer and Marcel Bergeron, Chief Financial Officer.

Mr. Lafleur is a Professional Geologist with 5 decades of experience in Geology and Mineral Exploration nationally in Canada and internationally in the USA, Mexico, Latin America, Ireland, Spain and Africa. He was a C-suite executive for small cap junior exploration companies over the years leading towards successful exploration programs in Quebec and Ontario. Jean remains active as a technical, management and financial consultant (QORIS Partners Inc. and PJLEXPL Inc.) with junior explorers since the early 2000's. His expertise also spans company and project evaluations, audits, and reporting; exploration program planning, execution and reporting, and research; and investment presentations across Canada, the USA and Europe. He obtained B.Sc. and M.Sc. degrees in Geology from the University of Ottawa and was active as an exploration geologist early in his career with trend setters Newmont, Falconbridge, Dome Mines and Placer Dome. Jean successfully led exploration teams in the search for precious and base metals, nickel and PGE's, uranium, and iron; and he brings a proven track record in leadership skills, strategic planning and mineral exploration leading to discovery. Jean is currently VP Exploration at TomaGold Corporation; Boards member at Scandium Canada and Hertz Energy; and a mineral exploration consultant/contractor for Appian Capital Advisory LLP, Lafleur Minerals, and Coyote Copper Mines.

Mr. Perrault has more than 30 years of experience in the merchant banking, capital markets and investment banking industries. He is currently Vice President, Capital Markets and Investors Relations at Oak Hill Financial Inc. where he provides capital markets advisory services for growth companies in innovation sectors. Previously, Mr. Perrault acted as Managing Director, Corporate Finance for Leede Financial Inc., where he completed a multitude of public and private placement financings for numerous new and existing Canadian issuers. Mr. Perrault also acted as President & CEO of Northcore Resources Inc., a junior exploration company listed on the TSX Venture exchange. He was also Senior Vice President, Corporate Finance of Union Securities and Vice President & Director of TD Capital where he was involved in managing an investment fund where he completed small to mid-market investments and launching TD Capital Private Equity Partners, Canada's first international private equity Fund of Funds. Mr. Perrault serves on the TSX Venture Exchange's Local Advisory Committee (Eastern Canada) and also holds directorship roles with Ni-Co Energy Inc and CAT Strategic Metals Corporation.  Mr. Perrault holds a Bachelor of Arts degree (Economics) from McGill University and an MBA from Concordia University.

Share Consolidation

The Company intends to implement a consolidation (the "Consolidation") of its Shares on the basis of five (5) pre-Consolidation Shares for every one (1) post-Consolidation Share, subject to the Shareholders' approval at the AGSM ("Shareholders' approval") and TSXV's acceptance.

The Consolidation will reduce the number of outstanding Shares from 41,779,998 to approximately 8,356,000. Shareholders' proportional ownership in the Company will remain unchanged following the Consolidation. The exercise or conversion price of the Company's outstanding warrants and convertible notes, and the number of Shares issuable thereunder, will also be proportionately adjusted to reflect the Consolidation.

No fractional Shares will be issued as a result of the Consolidation. If, as a result of the Consolidation, a shareholder receives less than one whole post-Consolidation Share, the number of post-Consolidation Shares issued to the shareholder will be rounded up or down to the nearest whole number. No cash consideration will be paid in respect of fractional Shares.

Further disclosures in respect of the Consolidation will be provided in due course and available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Name Change

Further to the Consolidation and forming part of the reorganization efforts, the Company intends to complete a name change from the current name to "Mista Resources Inc./Ressources Mista Inc." (the "Name Change"), subject to Shareholders' Approval and TSXV's acceptance. The stock symbol of the Company is expected to be changed to correspond to the Name Change. Such Name Change will not affect the rights of the Company's shareholders. Further disclosures in respect of the Name Change will be provided in due course and available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Corporate Update

The Company had previously advanced the sum of $200,000 to an arm's length party, pursuant to a promissory note dated August 15, 2018 (the "Note"). The Note bore interest at a rate of 7.5% per annum, compounded annually, with a maturity date of February 15, 2019. The advance was subsequently written off when it became apparent that the party was unable to reimburse the loan. Following the initiation of legal proceedings, the Company was successful in recovering substantially the full amount.

On August 12, 2020, the Company entered into a property acquisition agreement (the "Monster Lake Agreement") with TomaGold Inc. ("TomaGold"), pursuant to which the Company agreed to assign, transfer and sell to TomaGold all of its rights, titles and interests in and to the Monster Lake property located in Québec (the "Monster Lake Property"). The transaction was completed and accepted by the TSX Venture Exchange, and, in consideration thereof, the Company received a cash payment of $250,000 from TomaGold and TomaGold returned 750,000 common shares of the Company previously held by TomaGold. As of the date hereof, the Company has no remaining interest in, or outstanding obligations with respect to, the Monster Lake Property.

On October 18, 2024, the Company entered into a term sheet with Bathurst Metals Corp. ("Bathurst") pursuant to which Bathurst agreed to grant the Company an exclusive working right and option to acquire up to a 100% undivided interest in the Gela Lake Property, a mineral claim located near Gela Lake, Nunavut (the "Term Sheet"). As subsequently amended, the Term Sheet provided that it would become null and void if the Company's shares were not re-listed on or before June 30, 2026. As the Company did not re-list its shares by such date, the Term Sheet became null and void as of June 30, 2026 by its own terms, no option was ever granted or exercised, and the transaction was never completed.

About Quinto Resources Inc.

Quinto Resources Inc. (TSXV: QIT) is a Canadian mining exploration company.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this news release that are not historical facts are 'forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, if and when the trading of the Company's common shares will be reinstated on the TSXV, Consolidation, Name Change and next steps and courses of action. In certain cases, Forward-Looking Information can be identified by the use of words and phrases or variations of such words and phrases or statements such as "anticipate", "expect", "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this news release is based on certain material assumptions and involve, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include those factors discussed in Quinto's public filings. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. For further information on these and other risks and uncertainties that may affect the Company's business, see the Company's Management's Discussion and Analysis filed with certain Canadian securities regulators, which are available at www.sedarplus.ca. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Quinto Resources Inc.