Pedro Resources Announces Results of Annual and Special Meeting

Toronto, Ontario--(Newsfile Corp. - April 1, 2021) - Pedro Resources Ltd. (TSXV: PED.H) (the "Company") is pleased to announced the results of its annual and special meeting of shareholders held on March 26, 2021 (the "Meeting").

All matters presented for approval at the Meeting were duly authorized and approved, as follows:

1. to fix the number of directors at four (4).

1. each of the following nominees was elected as a director of the Company. The results of the common shares voted in person or by proxy are as follows:

1. the appointment of RSM Canada LLP as the Company's auditor until the next annual meeting of shareholders and the board of directors were authorized to fix the remuneration of the auditor.

1. the approval and confirmation of the stock option plan of the Company.

1. the authorisation of the Company to make an application to voluntarily delist the common shares of the Company from the NEX board of the TSX Venture Exchange and to apply to list the Company's common shares on the Canadian Securities Exchange.

In addition, further to the Company's press release of November 27, 2020, the Company is actively pursuing the arm's length share purchase agreement dated November 27, 2020, with Voisey's Bay West Nickel & Cobalt Corp. ("Voisey's Bay") and the shareholders of Voisey's Bay, pursuant to which the Company has agreed to acquire all of the issued and outstanding shares of Voisey's Bay (the "Transaction"). Further details of the Transaction will be provided in subsequent news releases of the Company.

For further information, please contact:

On behalf of the Board,Brian StecykChief Executive Officer and DirectorTel: 780-953-0111

Neither the 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 release.

This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79210^[1]

References

1. ^{^} https://www.newsfilecorp.com/release/79210 (www.newsfilecorp.com)