Toronto, Ontario--(Newsfile Corp. - July 14, 2026) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (the "Company") announces that Mr. Patrick Quigley has been appointed Vice President of Exploration of the Company effective immediately.
Carolina Rush CEO Layton Croft stated: "Patrick is an exceptional economic geologist who has consistently performed at a high level since joining our team in mid-2020. He was appointed Senior Geologist and Exploration Manager in January 2022, and serves as our Qualified Person. Patrick's 18 years of professional experience spans the United States and parts of Latin America. His extensive knowledge of exploration opportunities in the southeastern U.S. includes unmatched expertise of Brewer's large, complex, and highly prospective gold-copper epithermal-porphyry system. I am grateful to Patrick for his dedication, technical excellence, leadership, and integrity. Our Company is stronger with Patrick serving as our Vice President of Exploration."
On July 9, 2026, the Company granted an aggregate of 1,035,000 restricted share units (the "RSU") and 1,075,000 stock options (the "Options") to certain directors, officers, employees and consultants of the Company. The RSUs shall vest as to 1/3 on the first anniversary of the date of grant; 1/3 on the second anniversary of the date of grant; and 1/3 on the third anniversary of the date of grant. Each Option entitles the holder thereof to purchase common shares (the "Common Shares") in the capital of the Company exercisable at a price of $0.16 per Common Share for a period of three (3) years from the date of issuance. The Common Shares issuable upon exercise of the Options are subject to a four-month hold period from the original date of grant.
In addition, subject to the required approval from the TSX Venture Exchange, the Company intends to extend the expiry date of an aggregate of 7,624,468 Common Share purchase warrants (each, a "Warrant"). The 7,624,468 Warrants were originally issued pursuant to a brokered private placement offering of 14,238,236 units in the capital of the Company at a price of $0.15 per unit which closed on August 15, 2023. Each unit was comprised of one Common Share and one-half of one Warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.20 until August 15, 2026. The Company will enter into a supplemental warrant indenture amending the expiry date of the Warrants from August 15, 2026 to August 15, 2027. All other terms and conditions of the Warrants remain unchanged.