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TORONTO, Dec. 22, 2022 (GLOBE NEWSWIRE) — Mega Uranium Ltd. TSX (“Mega” or the “Pursue“) announces that it has acquired ownership of an additional 3,333,333 common shares and 3,333,333 warrants to purchase common shares (the “Securities purchased“) by Green Shift Commodities Ltd. (the “Exhibitor“), pursuant to a private placement of Shares completed by the Issuer on December 22, 2022 (“ConcludeThe securities purchased were acquired by Mega for a total price of $500,000, or $0.15 per unit (each unit consisting of one common share and one common share purchase warrant), and represents an increase of approximately 2.3% of the of the Issuer’s outstanding common shares held by Mega on a basic basis and an increase in the percentage of the Issuer’s outstanding common shares held by Mega by approximately 4.1% on a partially diluted basis, assuming all of the Issuer’s warrants are exercised by Mega .

Immediately prior to the Closing, Mega owned an aggregate of 6,129,576 Common Shares and 5,140,909 Common Share Purchase Warrants of the Issuer, representing approximately 10.1% of the Issuer’s then Common Shares outstanding on a basic basis and approximately 17.1% of the Issuer’s then Common Shares outstanding, on a partial basis diluted basis, assuming all warrants are exercised, and together with the securities purchased at closing (all of which “securities“), represented approximately 12.4% of the Issuer’s then outstanding common shares on a basic basis and approximately 21.2% of the Issuer’s then outstanding common shares on a partially diluted basis, assuming that all warrants making up the The warrants, which comprise the purchased securities, are subject to a contractual exercise restriction that prohibits Mega from acquiring 20% ​​or more of the issuer’s outstanding common shares at…