Further to its bulletin dated June 30, 2026, the Toronto Stock Exchange reports that Phoenix Metals Corp.'s Class A shares will trade on an if, as and when-issued basis at 9:30 a.m. Toronto time on July 6, 2026, under the symbol PCA and with Cusip No. 71910B 30 3. According to the TSX, the company has filed a final base PREP prospectus for an initial public offering of 34 million treasury shares at $1.25 per share. The company has granted the underwriters an overallotment option to acquire up to an additional 5.1 million shares at the same price. It expects to close the offering before the open on July 9, 2026.

Subject to the closing of the offering on July 9, 2026, all trades in the Class A shares in the if, as and when-issued market on July 6, 2026, July 7, 2026, and July 8, 2026, will be for special settlement on July 9, 2026, and will appear on the settlement report from CDS Clearing and Depositary Services Inc. Upon closing of the offering, the TSX will issue a bulletin to confirm: (i) the closing; and (ii) that the shares will no longer trade on an if, as and when-issued basis, but will trade thereafter on a regular settlement basis. If the offering does not close, all of the if, as and when-issued trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers.

The TSX notes that parties who are entitled to receive shares under the offering may sell such securities in the if, as and when-issued market without being subject to restrictions on short sales. Parties who are not entitled to receive shares under the offering must comply with the short sale rule in all respects for any sales they make in the if, as and when-issued market.

For more information, see the final base PREP prospectus dated June 30, 2026, the supplemented PREP prospectus dated July 2, 2026, and the company's news releases dated June 30, 2026, and July 2, 2026.