TORONTO, Sept. 17, 2025 (GLOBE NEWSWIRE) — Pursuant to a shares for debt transaction that closed on September 4, 2025, Future Mineral Resources Inc. (“FMR” or the “Company”) (formerly Sulliden Mining Capital Inc.) issued 12,000,000 of its common shares to 2227929 Ontario Inc. (“222”), a company controlled by Fred Leigh, a director and the chief executive officer of the Company, at a deemed price per share of approximately $0.05 in payment of approximately $696,234 owed by the Company to 222.
Prior to 222’s acquisition of the 12,000,000 shares, 222 did not own any FMR securities; however, Fred Leigh directly owned 6,500,000 common shares of the Company and 1,500,000 options entitling Mr. Leigh to acquire one additional common share, which at that time represented approximately 3.9% and 4.8% of FMR’s outstanding common shares on a non-diluted and partially-diluted basis, respectively. As a result of this transaction, and after completion of a 10:1 share consolidation by the Company effective September 5, 2025, Mr. Leigh now directly or indirectly (through 222) owns 1,850,000 common shares and 150,000 options, which represents approximately 11% and 11.9% of FMR’s outstanding common shares on a non-diluted and partially-diluted basis, respectively.
Mr. Leigh caused 222 to acquire the shares to settle amounts owed to it by FMR to assist in strengthening FMR’s balance sheet to facilitate a transition from a listing on the Toronto Stock Exchange to the TSX Venture Exchange. Mr. Leigh and 222 may acquire additional securities of FMR in the future, may dispose of some or all of the securities, or may continue to hold their respective current positions.
For more information, or for a copy of the report filed under applicable securities laws by Mr. Fred Leigh in connection with the transactions referred to in this press release, please contact Mr. Fred Leigh at 416 861 2267.
Fred Leigh’s address is:
Frederic Leigh
198 Davenport Road
Toronto, Ontario
M5R 1J2
