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Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. VANCOUVER, British Columbia, June 30, 2021 (GLOBE NEWSWIRE) Waverley Resources Ltd. (“ Issuer”) by a Plan of Arrangement under the Ontario Business Corporations Act (the “ Arrangement”) on June 30, 2021 (the “ Effective Date”). Woodbridge Shares”) it received under the Arrangement to holders (“ Waverley Shareholders”) of common shares of Waverley (“ Waverley Shares”) on a pro rata basis, such that Waverley Shareholders received 0.1 Woodbridge Share for every 1 Waverley Share held on the Effective Date. As a result of the Arrangement, Mr. Buchan acquired beneficial ownership of and / or exercise of control or direction over an aggregate 637,900 Woodbridge Shares representing approximately 18.18% of the issued and outstanding Woodbridge Shares. Prior to completion of the Arrangement, Mr. Buchan did not

United kingdomBritish columbiaNational instrumentSecurities commissionWoodbridge resources ltdWaverley resources ltdTakeover bidsIssuer bidsEarly warning systemRelated take over bidInsider reportingLauder projectWoodbridge resourcesOntario business corporations actWaverley shareholdersWoodbridge shares