Beedie Investments Early Warning Press Release Regarding Investment in Artemis Gold Inc.

BURNABY, BC, May 26, 2021 /CNW/ - In connection with the recently announced non-brokered private placement (the "Private Placement") of 9,200,000 common shares ("Common Shares") by Artemis Gold Inc. (the "Company"), BIV Holdings Ltd., a wholly-owned subsidiary of Beedie Investments Limited (both such entities together, "Beedie Investments"), purchased 8,197,000 Common Shares at a price of C$6.10 per Common Share for an aggregate investment of C$50,001,700.  In addition to the Private Placement, the Company previously announced on May 19, 2021 the completion of a bought deal prospectus offering of 18,853,100 Common shares at a price of C$6.10 per Common Share for aggregate gross proceeds of C$115,003,910 (the "Bought Deal Offering").  Beedie Investments did not acquire any Common Shares under the Bought Deal Offering. The net proceeds of the Bought Deal Offering and the Private Placement will be used by the Company to make its final cash acquisition payment to New Gold Inc. pursuant to an Asset Purchase Agreement dated June 9, 2020 between the Company and New Gold Inc., to fund permitting and development costs for the Company's Blackwater Gold Project, and for general corporate purposes.

Beedie Investments is controlled by Ryan Beedie, who is also a director of the Company.  Following the closing of the Private Placement, Beedie Investments and Mr. Beedie together hold (i) 42,945,773 Common Shares, (ii) common share purchase warrants entitling the holder to purchase one Common Share at a price of $1.08 per Common Share for a period of 60 months following their issuance on August 27, 2019 that are exercisable into a further 11,111,111 Common Shares (the "Warrants") and (iii) options to acquire an additional 250,000 Common Shares (the "Options"). Assuming the exercise in full of the Warrants and the Options, Beedie Investments and Mr. Beedie together are deemed to beneficially own a total of 54,306,884 Common Shares, representing approximately 33.2% of the issued and outstanding Common Shares after giving effect to such exercises.

Beedie Investments and Mr. Beedie acquired their Common Shares, Warrants and Options for investment purposes, and review their holdings in the Company on a continuing basis and may from time to time and at any time, in their sole discretion, acquire or cause to be acquired additional equity or debt securities or other instruments of the Company, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by the Company and other privately negotiated transactions, or otherwise, in each case in accordance with applicable securities laws.

A copy of the early warning report relating to the announcement of the Acquisition will be available under the Company's profile on SEDAR, and may also be obtained by contacting Beedie Investments at [phone].

Beedie Investments
3030 Gilmore Diversion
Burnaby, BC V5G 3B4
Canada

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Beedie Investments Ltd.