EARLY WARNING REPORT FILED PURSUANT TO NATIONAL INSTRUMENT 62-103

MONTREAL, May 17, 2023 /CNW/ - Stephane Leblanc announces that, directly and indirectly, he has disposed (the "Disposition") a total of 327,000 common shares (each, a "Share") of QNB Metals Inc. ("QNB").

Prior to the Disposition, Mr. Leblanc, President, CEO and shareholder of QNB, directly and indirectly, held 2,558,165 Shares and securities that entitle him to acquire 1,095,000 Shares. Upon Disposition, he has control and direction over an aggregate of 2,231,165 Shares and 1,095,000 convertible securities, representing 20.66% of the issued and outstanding Shares and 27.96% on a partially-diluted basis.

All securities of QNB controlled by Mr. Leblanc are held for investment purposes. In the future, he (directly or indirectly), may acquire and/or dispose of securities of QNB through the market, privately or otherwise, as circumstances or market conditions may warrant.

This press release is issued pursuant to the early warning requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the early warning report to be filed by Mr. Leblanc in connection with the Disposition will be available on the Issuer's SEDAR profile once it has been filed in accordance with applicable securities laws and may be obtained by contacting:

Stephane Leblanc
QNB Metals Inc.
[email protected]

SOURCE Stephane Leblanc