Early Warning News Release

HONG KONG, April 13, 2023 (GLOBE NEWSWIRE) -- GFL International Co., Ltd. ("GFL") announced today that further to its news releases dated April 6 and 11, 2023 and pursuant to transactions which took place privately and through the facilities of the TSX Venture Exchange on April 12, 2023 (the "Transactions"), it: (i) disposed of warrants (the "Warrants") it previously held to acquire 33,113,072 common shares (the "Common Shares") of Arena Minerals Inc. (the "Issuer"), of 1410 - 120 Adelaide St. W, Toronto, Ontario, M5H 1T1 Canada, through the exercise of the Warrants at exercise prices of $0.15 or $0.25 per Common Share for an aggregate exercise price of $6,300,889.30, thereby acquiring 33,113,072 Common Shares; and (ii) subsequently disposed of an aggregate of 48,339,218 Common Shares at a price of $0.57 per Common Share for aggregate gross proceeds of $27,553,354.26.

Immediately before the Transactions, GFL had ownership of 15,226,146 Common Shares and held warrants of the Issuer entitling it to acquire a further 33,113,072 Common Shares representing 3.7% of the issued and outstanding Common Shares on a non-diluted basis and 10.9% of the issued and outstanding Common Shares on a partially-diluted basis (based on the Issuer's most recent disclosure that a total of 410,445,190 Common Shares are outstanding). Following the Transactions, GFL beneficially owned and controlled no Common Shares and held no Warrants of the Issuer representing 0% of the issued and outstanding Common Shares on a non-diluted basis and 0% of the issued and outstanding Common Shares on a partially-diluted basis. GFL disposed of the Common Shares and Warrants in connection with an agreement (the "Support and Disposition Agreement") between the GFL and Lithium Americas Corp. ("LAC") committing to use commercially reasonable efforts to dispose of all of its securities of the Issuer (including warrants held) prior to closing of the plan of arrangement (the "Arrangement") contemplated by the arrangement agreement entered into between the Issuer and LAC dated December 19, 2022, as amended, and to vote the Common Shares in favour of the shareholders' resolution respecting the Arrangement.

The head office address for GFL is Room 2103, Tung Chiu Commercial Centre, 193 Lockhart Road, Wan Chai, Hong Kong. A copy of GFL's early warning report will be filed on the Issuer's SEDAR profile at www.sedar.com.

For further information concerning the Transactions, please contact Samuel Pigott, Director of GFL at 1 (416) 357 4681 or by email addressed to [email protected].