RCF Opportunities Fund L.P. Announces Acquisition of Securities in Inflection Resources Ltd.

DENVER, July 20, 2020 /CNW/ - RCF Opportunities Fund L.P. ("RCF") reports that, on July 17, 2020, it acquired ownership and control of 1,340,000 units (the "Units") of Inflection Resources Ltd. (CSE: AUCU) (the "Company" or "Inflection") in connection with Inflection's Initial Public Offering on the Canadian Securities Exchange that was completed on July 17, 2020. RCF acquired the Units at a price of $0.25 per Unit for a total purchase price of $335,000.

Each Unit consists of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire, subject to adjustment in certain circumstances, one Common Share of the Company at an exercise price of $0.40 for a period of 18 months following July 17, 2020. If, during the term of the Warrants, the closing price of the Common Shares on the Canadian Securities Exchange is equal to or greater than $0.80 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of the Warrants, accelerate the expiry date of the Warrants to the day that is 30 days following the date of such written notice.

Prior to the acquisition of the Inflection Units, RCF owned and controlled a total of (i) 4,090,909 common shares of Inflection (each, a "Common Share"), representing approximately 9.5% of the then issued and outstanding Common Shares and (ii) 4,090,909 Warrants, representing 26.4% of the then issued and outstanding Warrants. Assuming the exercise of all of the Warrants held by RCF prior to the acquisition of the Inflection Units, an aggregate of 8,181,818 Common Shares would have been owned and controlled by RCF, representing approximately 17.3% of the then issued and outstanding Common Shares. Prior to the completion of its Initial Public Offering, Inflection was not a reporting issuer under applicable Canadian securities laws and, as such, RCF was not subject to insider reporting requirements under applicable Canadian securities laws in respect of its investment in Inflection.

Immediately following the acquisition of the Inflection Units, RCF owned and controlled a total of (i) 5,430,909 Common Shares, representing approximately 9.5% of the issued and outstanding Common Shares after the Initial Public Offering of Inflection, and (ii) 4,760,909 Warrants, representing 20.65% of the issued and outstanding Warrants after the Initial Public Offering of Inflection. Assuming the exercise of all of the Warrants held by RCF immediately following the acquisition of the Inflection Units, an aggregate of 10,191,818 Common Shares would be owned and controlled by RCF, representing approximately 16.5% of the issued and outstanding Common Shares after the Initial Public Offering of Inflection.

RCF acquired the Inflection Units for investment purposes. RCF may, from time to time, acquire additional securities of Inflection, dispose of some or all of the existing or additional securities of Inflection or may continue to hold the securities of Inflection.

Inflection's office is located at 1100 - 595 Howe Street, Vancouver, British Columbia V6C 2T5.

To obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Inflection's profile on the SEDAR website www.sedar.com.

About RCF Opportunities Fund L.P.

RCF is a private investment fund.

SOURCE RCF Opportunities Fund L.P.

and to obtain a copy of the early warning report, please contact: RCF Opportunities Fund L.P., 1400 Sixteenth Street, Suite 200, Denver, CO, 80202, Telephone: [phone], Attn: Molly Campbell