Raging River Capital Limited Announces Filing of Early Warning Report

Hong Kong, Hong Kong--(Newsfile Corp. - January 12, 2026) - Raging River Capital Limited ("Raging River") announces that on November 19, 2025, AJN Resources Inc. ("AJN") announced the closing of a non-brokered private placement (the "Private Placement") of units (each, a "Unit") in the capital of AJN with Raging River at a price of $0.10 per Unit for total gross proceeds of $3,000,000 via the issuance of a total of 30,000,000 Units. Each Unit is comprised of one common share of AJN (each, a "Common Share") and one share purchase warrant (each, a "Warrant"), where each Warrant will entitle Raging River to purchase one additional Common Share (each, a "Warrant Share") at an exercise price of $0.15 per Warrant Share for a two-year period.

The securities issued pursuant to the Private Placement are, and any Warrant Shares to be issued on the exercise of Warrants will be, restricted from trading until March 20, 2026. The CSE has advised AJN that until the Private Placement has been approved by the shareholders of AJN, Raging River may not vote more than that number of shares equal to 19.9% of the issued and outstanding shares in AJN.

Raging River did not, directly or indirectly, own any securities of AJN immediately before the completion of the Private Placement.

Immediately following the completion of the Private Placement, Raging River, directly or indirectly, owns or controls a total of 30,000,000 Common Shares and 30,000,000 Warrants, representing approximately 28.84% of the issued and outstanding Common Shares as of the date of this report on a non-diluted basis and approximately 44.76% of the issued and outstanding Common Shares when assuming (a) exercise of all 30,000,000 Warrants and (b) no additional issuance of Common Shares.

All of the securities held by Raging River in AJN, including the Common Shares, are being held for investment purposes. Raging River may in the future take such actions in respect of its securityholdings in AJN as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of AJN through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving AJN, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Raging River may continue to hold its current positions.

A copy of the early warning report relating to the Common Shares will be available under AJN Resources Inc.'s profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting Raging River Capital Limited at +852 (728) 115 9119. Raging River Capital Limited's head office is located at Flat 02, Blk B, 2/F, Hoover Industrial Building, 26-38, Kwai Cheong Road, Kwai Chung, New Territories, Hong Kong.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280130