CAAF Ltd acquires 97,162,387 ordinary shares ("Shares") of Xanadu Mines Ltd ("Issuer")

TORONTO, March 31, 2022 /CNW/ - CAAF Ltd ("Acquiror") announced today that, on March 30, 2022, the Acquiror completed a restructuring with Copper Plate Success Limited ("CPSL") whereby the Acquiror has acquired all the Shares of the Issuer held by CPSL (the "Restructure") and Asia Capital and Advisors Pte. Ltd. ceased to be the manager of the Acquiror.  As a result of the Restructure, the Acquiror acquired 97,162,387 Shares or 7.68% of the issued and outstanding capital of the Issuer and Francis Rozario assumed sole control and direction over the Acquiror.

The address of the Acquiror is TMF Services SA, Rue de Jargonnant 2, 1207 Geneva, Switzerland.  The registered office of the Issuer is C/- Company Matters Pty Limited, Level 12, 680 George Street, Sydney NSW 2001, Australia.

As a result of the Restructure, the Acquiror now owns directly 225,190,378 Shares of the Issuer representing approximately 17.80% of the current total issued and outstanding Shares of the Issuer.

The Shares of the Issuer were acquired for investment purposes only.  Depending on market and other conditions, the Acquiror may from time to time in the future increase or decrease its ownership, control or direction over Shares or other securities of the Issuer, through market transactions, private agreements or otherwise.

Following the Restructure, Copper Plate Success Limited is no longer a "joint actor", as defined under National Instrument 62-103 ? The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI-62-103"), of the Acquiror.  This press release is issued pursuant to NI 62-103.

A copy of this press release and a copy of the Early Warning Report will be filed on www.sedar.com.

SOURCE CAAF Ltd.