Radio Fuels Energy Corp. agreed to Spin-Off Elliot Lake assets on April 30, 2024. the Company?s Board of Directors has unanimously approved plans for a strategic reorganization of its business pursuant to which the Company will become a resource focused investment issuer while the Company?s Elliot Lake assets and CAD 1.5 million in cash will be spun out to Radio Fuels?

shareholders through a newly incorporated company. It is proposed that common shares of SpinCo will be listed and distributed to shareholders of Radio Fuels in proportion to their shareholdings of Radio Fuels.