Medalist Capital Ltd. Holdings of Nomad Royalty Company Ltd. Drop Below 10%

TORONTO, June 1, 2020 /CNW/ - Medalist Capital Ltd. ("Medalist") announces that Medalist's position in Nomad Royalty Company Ltd. (previously Guerrero Ventures Inc.) (the "Corporation") has been reduced below 10% as a result of the completion by the Corporation of a reverse take-over transaction (the "RTO"). In connection with the RTO, the Corporation issued an aggregate of 477,733,743 common shares in the capital of the Corporation ("Shares"). A total of 462,955,965 Shares were issued as consideration under the RTO and an additional 14,777,778 Shares were issued on automatic conversion of the Corporation's subscription receipts ("Subscription Receipts") as a result of completing the RTO. Further information in respect of the Corporation's RTO is contained in the Corporation's press release dated May 27, 2020, a copy of which can be found under the Corporation's SEDAR profile accessible via www.sedar.com.

Prior to the RTO, Medalist beneficially owned or controlled 8,103,220 Shares and 388,622 Subscription Receipts, representing approximately 24.35% of the issued and outstanding Shares on an undiluted basis and approximately 25.51% on a partially-diluted basis.

As a result of the RTO, Medalist beneficially owns or controls 8,491,842 Shares, representing approximately 1.66% of the issued and outstanding Shares on an undiluted and partially-diluted basis. Medalist is no longer a "control person" of the Corporation under applicable securities laws.

The Corporation is located at 1275 Av. des Canadiens-de-Montréal, Suite 500, Montréal, Quebec H3B 0G4. A copy of the early warning report will be filed by Medalist (301 - 145 Adelaide St. West, Toronto, Ontario M5H 4E5) and will be available on the Corporation's profile on SEDAR accessible via www.sedar.com. A copy of the early warning report may also be obtained by contacting Riley Keast at [phone].

This press release is issued under the early warning provisions of Canadian securities legislation.

SOURCE Medalist Capital Ltd.