Mr. Richard King Jr. reports

PEPCAP COMPLETES SHARES FOR DEBT SETTLEMENT

Pepcap Resources Inc., following acceptance by the TSX Venture Exchange, has completed its previously announced share-for-debt settlement.

Pursuant to the debt settlement, the company has issued 38,996,000 common shares at a deemed price of one cent per share to Franziska Von Fischer in full and final settlement of $389,960 of debt owed by the company.

The debt settlement was approved by the company's shareholders at the shareholders meeting held on Dec. 18, 2025.