Usha Resources and Totec Resources Settle Definitive Agreement for Qualifying Transaction

Usha Resources Ltd. and Totec Resources Ltd. have reached a Definitive Agreement for a qualifying transaction involving Usha's subsidiary, 1540359 BC Ltd. The transaction focuses on the White Willow Property, comprising 489 mineral claims across 10,220 hectares in Thunder Bay Mining Division. Usha transferred these claims to Subco for 5,500,000 shares. Usha's CEO, Deepak Varshney, anticipates completing this transaction with regulatory and investor support.

Upon Transaction completion, Totec aims to become a Tier 2 Mining Issuer on the TSX Venture Exchange. The deal includes the issuance of shares and a $50,000 payment to Usha. Totec will undergo share consolidation and plans Concurrent Financing to raise up to $4.2 million, enabling further exploration of White Willow. Completion is contingent on regulatory approvals and filings.

The resulting issuer's leadership, including Deepak Varshney as CEO, is ready to guide the future of the combined entity.