C08636-2021

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Dec 23, 2021
2. SEC Identification Number
CS201013282
3. BIR Tax Identification No.
007-851-927-000
4. Exact name of issuer as specified in its charter
AXELUM RESOURCES CORP.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
ICS Bldg. Tiano-Montalvan Sts., Cagayan de Oro City Postal Code 9000
8. Issuer's telephone number, including area code
02-88510715
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 3,828,940,500
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Axelum Resources Corp.AXLM

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Extension of share buyback program
Background/Description of the Disclosure

The Board of Directors of Axelum Resources Corp. (the "Company") approved on 23 December 2021 the extension of the Company's share buy-back program until 30 June 2022 under the following terms and conditions:

a. The buy-back program originally until 31 December 2021 shall be extended until 30 June 2022.

b. The Company shall be authorized to buy back up to Php800,000,000 (increased from an original amount of Php500,000,000) worth of common shares. Such amount may be increased from time to time by the Board of Directors as the circumstances may warrant and subject to the availability of unrestricted retained earnings. Based on the additional amount allocated for the buyback, the Company estimates to purchase up to a maximum of 105 million AXLM common shares assuming a price of P2.85 per share but the actual number of shares to be included in the buy-back program cannot as yet be determined as this will depend on the total buy-back price of the shares.

c. The capital structure of the Company as of 23 December 2021 before the extension of the buy-back program is as follows:

Authorized Capital Stock – 5,000,000,000 (4,000,000,000 common shares and 1,000,000,000 redeemable preferred shares)
Issued and Outstanding – 3,828,940,500 common shares
Treasury Shares – 171,059,500 common shares

The Company cannot accurately determine at this point its capital structure after the buy-back program since the actual number of shares to be included in the buy-back cannot as yet be determined as this will depend on the total buy-back price of the shares.

d. The buy-back program shall be executed in open market through the trading facilities of the Philippine Stock Exchange.

e. The buy-back program shall be implemented in an orderly manner and should not adversely affect the Company’s and its subsidiaries’ prospective and existing projects.

f. The Company shall purchase the shares using cash and book them as treasury shares.

g. The buy-back program shall be implemented under the supervision of the Company’s President and Chief Operating Officer.
Other Relevant Information

This is an update on the Company's disclosures last 11 March 2020, 22 September 2020, 29 December 2020, and 24 June 2021 regarding the approval of a share buy-back program and the terms and conditions thereof.
Filed on behalf by:
Name Dominic Isberto
Designation Compliance Officer