David Patterson Files Early Warning Report in Respect of Aurbis Resources Corp.

David Patterson increased his stake in Aurbis Resources Corp. to 15.94%.

What the company is saying

The announcement details David Patterson's recent acquisitions of Aurbis Resources Corp. (CSE:AURR) shares, disclosing exact quantities, transaction dates, and price ranges between $0.12 and $0.25 per share. The company frames this as a regulatory early warning report, emphasizing compliance with National Instrument 62-103 and correcting errors from the prior report. The narrative is factual, specifying that 1,898,500 shares were acquired since May 13, 2025, for a total of approximately $322,595.00. The report highlights two reporting events—September 1, 2026 (100,000 shares purchased, holdings rising to 14.53%) and October 5, 2026 (8,500 shares purchased, holdings rising to 16.54%). The company also clarifies that 813,186 new shares were issued from treasury after the last reporting event, and as of October 29, 2026, Patterson owns 3,580,300 shares, or 15.94% of the 22,456,606 outstanding. The tone is neutral and corrective, with no promotional language or forward-looking operational claims.

What the data suggests

The disclosed figures show that David Patterson has steadily increased his ownership in Aurbis Resources Corp. from 12.04% (1,629,800 shares) as of the prior report to 15.94% (3,580,300 shares) currently. Acquisitions occurred at prices between $0.12 and $0.25 per share, with a total outlay of approximately $322,595.00 for 1,898,500 shares since May 2025. The two key reporting events—September 1, 2026 (100,000 shares, moving from 14.07% to 14.53%) and October 5, 2026 (8,500 shares, moving from 16.50% to 16.54%)—are precisely documented. After the last reporting event, the company issued 813,186 new shares, diluting Patterson's percentage from 16.54% to 15.94% despite no further acquisitions. The early warning report also corrects a prior underreporting of shares acquired in March and April 2025. All claims are supported by specific numbers, and the report is transparent about both share movements and prior reporting errors. No operational, financial, or project performance data is included; the focus is solely on insider shareholdings.

Analysis

The announcement is a regulatory early warning report detailing insider share acquisitions by David Patterson in Aurbis Resources Corp. All key claims are factual, realised, and supported by specific numerical data (dates, share counts, prices, percentage ownership). The only forward-looking statement is a standard disclaimer that the Acquiror may increase or decrease his holdings in the future, which is routine and not promotional. There is no exaggerated or promotional language, and no claims about future operational or financial performance. The tone is factual and corrective, with a focus on transparency and compliance. No large capital outlay is paired with uncertain or long-dated returns; the only capital mentioned is the aggregate consideration for shares already acquired. There is no gap between narrative and evidence.

Risk flags

• ●Concentration risk is present, as David Patterson now controls 15.94% of Aurbis Resources Corp., making his future actions—whether further accumulation or divestment—potentially impactful for minority shareholders.
• ●Disclosure risk is highlighted by the need to correct prior reporting errors, including the omission of 52,000 shares purchased in March 2025. This suggests that even regulatory filings can contain inaccuracies, which may affect transparency and investor trust.
• ●Liquidity risk may arise if Patterson decides to sell a significant portion of his holdings, given the size of his stake relative to the total float, potentially impacting the share price.

Bottom line

This filing confirms that David Patterson has increased his stake in Aurbis Resources Corp. to 15.94%, with all purchases and reporting events now complete and fully disclosed. The narrative is credible, supported by detailed transaction data, and corrects prior underreporting, enhancing transparency. While the report is strictly regulatory and does not address company operations or financial performance, Patterson's ongoing accumulation signals insider confidence but also introduces concentration and liquidity risks. Investors should recognize that this is a factual update on insider holdings, not a signal of operational change or near-term catalysts. The most important takeaway is the material influence Patterson now holds, and future filings or insider activity could further affect the shareholder landscape.

Announcement summary

(CSE:AURR) David Patterson (the "Acquiror") has filed an early warning report regarding his holdings in Aurbis Resources Corp. (formerly Québec Nickel Corp.). Since his prior early warning report dated May 13, 2025, the Acquiror acquired an aggregate of 1,898,500 Common Shares through the Canadian Securities Exchange at prices ranging from $0.12 to $0.25 per share, for total consideration of approximately $322,595.00. On September 1, 2026, the Acquiror purchased 100,000 Common Shares, increasing his holdings to approximately 14.53% of the outstanding Common Shares, up from 12.26% immediately following the April 24, 2025 acquisition. On October 5, 2026, he purchased an additional 8,500 Common Shares, raising his holdings to approximately 16.54% of the outstanding Common Shares, compared to 14.53% after the September 1, 2026 event. Before the September 1, 2026 Reporting Event, the Acquiror held 3,044,800 Common Shares (14.07%), and after, 3,144,800 Common Shares (14.53%). Before the October 5, 2026 Reporting Event, he held 3,571,800 Common Shares (16.50%), and after, 3,580,300 Common Shares (16.54%). The Acquiror has not acquired any Common Shares since the last Reporting Event. Following the last Reporting Event, the Issuer issued 813,186 Common Shares from treasury. As of the date of this release, the Acquiror beneficially owns and controls 3,580,300 Common Shares, representing approximately 15.94% of the 22,456,606 issued and outstanding Common Shares. The early warning report also corrects the prior report, which had described the triggering transaction as an acquisition of 8,000 Common Shares on April 8, 2025 and stated holdings of 1,629,800 Common Shares (12.04%), but omitted 52,000 Common Shares purchased on March 18, 2025. Including those shares, the requirement to file the prior report arose on April 24, 2025, when the Acquiror acquired 20,000 Common Shares, increasing his holdings from 1,639,300 (12.11%) to 1,659,300 (12.26%). As at the date of the prior report, the Acquiror held 1,681,800 Common Shares, representing 12.43% of the then outstanding Common Shares. The securities were acquired for investment purposes. The Acquiror intends to evaluate his investment in the Issuer and may increase or decrease his holdings depending on market and other conditions, subject to applicable securities laws.

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