Mr. Eric Salsberg Acquires Common shares in EDM Resources Inc.

TORONTO, July 21, 2023 /CNW/ - Mr. Eric Salsberg ("Mr. Salsberg"), a private investor, announced that he has acquired (the "Acquisition") an aggregate of 100,000 common shares ("Common Shares") of EDM Resources Inc. ("EDM"), representing approximately 0.41% of the 24,048,943 issued and outstanding Common Shares of EDM, through the facilities of the TSX Venture Exchange for an aggregate price of C$31,000, being C$0.31 per Common Share.

Prior to the Acquisition, Mr. Salsberg directly and indirectly owned 3,000,000 Common Shares of EDM and 155,000 warrants to acquire an aggregate of 155,000 Common Shares, together representing approximately 13.04% of the issued and outstanding Common Shares of EDM (assuming exercise of the warrants beneficially owned by Mr. Salsberg). As a result of the Acquisition, Mr. Salsberg beneficially owns and controls an aggregate of 3,100,000 Common Shares and 155,000 warrants to acquire an aggregate of 155,000 Common Shares, together representing approximately 13.44% of the issued and outstanding Common Shares of EDM (assuming exercise of the warrants beneficially owned by Mr. Salsberg). 

Mr. Salsberg has acquired the Common Shares for investment purposes. Mr. Salsberg intends to review his investment in EDM on a continuing basis. Depending on various factors including, without limitation, EDM's financial position, the price levels of the securities, conditions in the securities markets and general economic and industry conditions, Mr. Salsberg may in the future take such actions with respect to his investment in EDM as he deems appropriate, including, without limitation, (i) increasing or decreasing his position in EDM through, among other things, the acquisition or disposition of securities of EDM through the open market,  in privately negotiated transactions, subscriptions from treasury or otherwise, (ii) entering into transactions that increase or hedge his economic exposure to such securities without affecting his beneficial ownership of such securities, and/or (iii) continuing to hold his current position. 

This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires that an early warning report be filed under EDM's profile on the System for Electronic Document Analysis and Review (SEDAR) (www.sedar.com) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Mr. Salsberg at telephone number [phone].

The head office of EDM is located at Suite 1301, 1959 Upper Water Street, Halifax, Nova Scotia, B3J 3N2.

SOURCE Eric Salsberg