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SOMA ANNOUNCES DEBT SETTLEMENT FOR SHARES

Newswire.ca - Tue Jun 2, 5:20AM CDT

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VANCOUVER, BC, June 2, 2026 /CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) ("Soma" or the "Company") is pleased to announce that it has agreed to settle $25,780,086 of debt (the "Debt") through the issuance of common shares of the Company (the "Shares"). Pursuant to the debt settlement (the "Debt Settlement"), the Company will issue 23,436,442 Shares at a deemed price of $1.10 per Share to Conex Services Inc. (the "Creditor" or "Conex"), a company owned and controlled by Glenn Walsh, a director of the Company. The Debt was originally incurred in connection with a previous debt restructuring.

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