Fortune Future Holdings Limited Files Early Warning Report

Chifeng, China--(Newsfile Corp. - August 18, 2022) - Fortune Future Holdings Limited (the "Corporation" or "Fortune Future") today announced that it has filed an early warning report in connection with the disposal of an aggregate of 17,777,777 Common Shares of Gowest Gold Ltd. (TSXV: GWA) ("Gowest"), at a price of $0.35 per share, to an arm's length third party by private agreement.

Prior to the Transaction, the Corporation held ownership and control over 31,277,777 Common Shares, representing approximately 13.01% of the Issuer's issued and outstanding Common Shares.

Following the completion of the disposal, the Corporation holds ownership and control over an aggregate of 13,500,000 Common Shares, representing approximately 5.62% of the Issuer's issued and outstanding Common Shares. The Corporation holds no options, warrants or other securities convertible into or exchangeable for Common Shares.

This news release is being issued in accordance with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated August 18, 2022. The early warning report has been filed on the System for Electronic Document Analysis and Review ("SEDAR") under Gowest's issuer profile at www.sedar.com.

For further information, please contact Fortune Future Holdings Limited:

Guogang Li
President & CEO
+86 15104765111

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134194