Artemis Gold Inc V.ARTG

MD&A

[TELEMARKER]

11. OUTSTANDING SHARE DATA The authorized capital of Artemis Gold consists of an unlimited

number of common shares. As of the date of this report, there were 201,784,866 common shares

outstanding, 23,128,410 warrants outstanding, 14,051,975 stock options outstanding, 853,833

restricted share units and 87,000 deferred share units. Each whole warrant entitles the holder to

purchase one additional common share of the Company at a price per warrant of $1.08 until August 27, 2024.

[TELEMARKER]

23 million new shares coming soon, before Ausgust 27 2024. Bargain price $1.08 / share. Not sure if there is a 4 month hold.  It would be tempting to exercise warrants and sell shares while share price is as high as it is

[jedd11]

The holders of these warrants are primarily insiders and large funds along with a few high net worth individuals. There will be no hold upon exercise but most of these warrants are held by smart money and in very friendly hands. I do not expect a lot of selling by this group. Mine construction to be complete within about 2 months and first gold pour within about 4 months. With a current NPV of

[TELEMARKER]

Will see about first gold pour by end of September 2024, end of Q3. That would be an achievement. Current market cap $2.15 billion. Seems rich. 201.87 million shares out per SH, will increase to 224 million with warrant exercise

[jedd11]

There are 238 million fully diluted shares.

[TELEMARKER]

Artemis Gold Inc Symbol ARTG Shares Issued 201,784,866 Close 2024-05-06 C$ 9.20 Market Cap C$ 1,856,420,767 Recent Sedar Documents View Original Document

[jedd11]

The shares issued are not fully diluted. There are 238 million fully diluted shares.