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

BURNABY, BC, June 9, 2020 /CNW/ - In connection with the recently-announced acquisition (the "Acquisition") by Artemis Gold Inc. (the "Company") of the Blackwater Gold Project in central British Columbia from New Gold Inc. ("New Gold"), Ryan Beedie and Beedie Holdings Limited, an entity controlled by Mr. Beedie ("Beedie Holdings"), have committed to provide up to C$120 million toward the initial payment of C$140 million to be made by the Company to New Gold at the closing of the Acquisition (the "Closing"), to the extent such funds are not otherwise obtained by the Company through a planned equity financing (the "Financing") to be completed prior to the Closing.  Beedie Holdings and its affiliates may participate in the Financing, and will disclose further details regarding any acquisition of equity securities thereunder, and other funding provided to the Company in connection with the Acquisition, when such details are confirmed. The Acquisition and the Financing are more particularly described in the press release of the Company dated June 9, 2020.

Beedie Investments Limited ("Beedie Investments") is a wholly-owned subsidiary of Beedie Holdings, and is controlled by Mr. Beedie, who is a director of the Company.  Beedie Investments and Mr. Beedie together currently hold (i) 14,378,773 common shares in the capital of the Company ("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 100,000 Common Shares (the "Options"). Assuming the exercise in full of the Warrants and the Options, Beedie Investments and Mr. Beedie are collectively deemed to beneficially own a total of 25,589,884 Common Shares, representing approximately 43.0% 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 Limited
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.