Cypress Capital Management Ltd. Files Early Warning Report

VANCOUVER, BC, Sept. 30, 2025 /PRNewswire/ -- Cypress Capital Management Ltd. ("Cypress") today announced that per the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids it has filed an early warning report in respect of the expiration of certain warrants ("Warrants") that it held in Evergold Corp. ("EVER"). As of September 28, 2025, Cypress had ownership and control of 18,250,000 Warrants of EVER, representing the right to receive, upon exercise, 18,250,000 common shares of EVER, representing approximately 13.2% of EVER on a diluted basis reflecting conversion of the Warrants held by Cypress. Effective September 29, 2025, 6,250,000 of the Warrants held by Cypress expired. As a result, following expiration of those Warrants, Cypress's holdings of securities in EVER decreased by 4.11%. Cypress continues to have ownership and control of 12,000,000 Warrants of EVER, representing the right to receive, upon exercise, 12,000,000 common shares of EVER representing approximately 9.09% of EVER on a diluted basis reflecting conversion of the Warrants of EVER held by Cypress.

Cypress held the Warrants for investment purposes, and the transaction was triggered because the Warrants expired in accordance with their terms. Cypress intends to review, on a continuous basis, various factors related to its investment in EVER. Depending on market and other conditions, Cypress may decide to purchase additional securities of EVER or to sell all or part of its investment in EVER through market transactions, private agreements, treasury issuances, the exercise of convertible securities or otherwise.

As of the date hereof, Cypress no longer controls or directs 10% or more of the issued and outstanding securities of EVER. Accordingly, Cypress is no longer currently required to file early warning reports, except as may be required by applicable law.

This news release is being issued in accordance with 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated September 30, 2025. The early warning report in respect of the securities subject to this earning warning release has been filed on SEDAR+ (www.sedarplus.ca) under the issuer profile of EVER. To obtain a copy of the early warning report filed by Cypress Capital Management Ltd., please contact Jennifer Wood at jwood@cypresscap.com or refer to SEDAR+ (www.sedarplus.ca) under the issuer profile of EVER.

Cypress's head office is located at #1700-1055 West Georgia Street, Vancouver, British Columbia, Canada. EVER's head office is located at 110 Yonge Street, Suite 1601, Toronto, Ontario, Canada.

ABOUT CYPRESS CAPITAL MANAGEMENT LTD.

Cypress was formed in October 1998 with its head office in Vancouver, British Columbia. The founding partners of Cypress wanted to create a firm that would best meet the needs of individual investors and corporate clients. Since the firm's inception, assets under management have grown to over $5 billion including private clients, foundations and institutional mandates. On June 30, 2004, AGF acquired 100% of the outstanding shares of Cypress. Cypress' investment team and investment strategies/policies remain independent of AGF's. Cypress' investment team is comprised of experienced investment professionals, each holding a CFA designation. Cypress prides itself on maintaining a thorough understanding of current empirical work on portfolio management.  Cypress believes it is important to maintain the highest level of integrity in its business practice. All staff members follow the CFA Institute code of ethics and standards of professional conduct.

Forward-Looking Statements

This press release includes "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, the "forward-looking statements"). Such statements are based on the current expectations and views of future events of management. In some cases the forward-looking statements can be identified by words or phrases such as "will", "expect", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking statements discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Cypress, including other factors beyond the control of Cypress. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause Cypress's actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements contained herein. Accordingly, readers should not place undue reliance on such forward-looking statements. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Cypress does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

SOURCE Cypress Capital Management Ltd.