Press Release of Mark Wellings Regarding Early Warning Report

This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

Toronto, Ontario--(Newsfile Corp. - January 22, 2020) - As previously announced in a press release dated January 14, 2020, Eurotin Inc. (TSXV: TIN) ("Eurotin") announced that it had completed the final step in its transaction with Elementos Limited (ASX: ELT) ("Elementos") and, consequently, the one billion convertible redeemable preference shares of Elementos previously issued to Eurotin's shareholders have now been converted into common shares of Elementos. As a result of the completion of this transaction, Mark Wellings and ZCR Corp., a company wholly owned by Mr. Wellings, (together, the "Acquiror") now own 400,905,049 common shares in the capital of Elementos (the "Common Shares"), which represents approximately 15.75% of the outstanding Common Shares on an undiluted basis. The Acquiror holds the Common Shares for investment purposes and may acquire further Common Shares or dispose of its holdings of Common Shares both as investment conditions warrant.

To obtain a copy of the Early Warning Report to be filed by the Acquiror in connection with the acquisition of the Common Shares, please contact Mr. Wellings at 416-616-0345. A report respecting this acquisition will also be filed with the applicable securities commissions using the System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing on Elementos' profile at www.sedar.com.

Neither 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.

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51742

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