Lobo Tiggre of IndependentSpeculator.com shares his thoughts on how gold, silver and oil could be impacted by the developing situation in the Middle East.
He cautioned investors not to chase these commodities if prices run.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Canada’s government unveiled a sweeping new suite of investments this week designed to cement the nation’s role as a global leader in the burgeoning critical minerals sector.
Speaking on Tuesday (March 3) at the Prospectors & Developers Association of Canada (PDAC) convention in Toronto, Minister of Energy and Natural Resources Tim Hodgson outlined more than C$3.6 billion in programs and funding commitments to help get Canadian minerals “from mine to market.’
The initiatives include up to C$165.2 million for 22 Canadian projects to accelerate planning, development and processing capacity, unlocking over C$434 million in critical minerals project capital across eight provinces.
This comes alongside the launch of the C$1.5 billion First and Last Mile Fund, aimed at building key infrastructure, from roads to electricity transmission, that will help mines move minerals to processing hubs and markets.
“The government is making smart investments so we can put our mineral wealth to work … and ensure all Canadians benefit,” Hodgson said, emphasizing that these efforts will support good-paying jobs, bolster economic and national security and strengthen rural and remote communities.
The funding announcements are fresh on the heels of the Fraser Institute’s Annual Survey of Mining Companies, which tracks the investment attractiveness of global mining jurisdictions.
In the 2025 report, Canadian provinces took the number two (Ontario) and three (Saskatchewan) spots, with Ontario jumping from its 15th place position on the list in 2024.
Hodgson’s federal investment remarks followed an address delivered on Sunday (March 1) by Claude Guay, parliamentary secretary to the minister, during PDAC’s opening ceremonies.
He underscored that Ottawa sees critical minerals as much more than commodities.
“Critical minerals are not just important, they’re foundational. They are the backbone of the clean energy transition and increasingly essential to our national security,’ Guay told the audience.
“In a time of geopolitical tension, accelerating climate ambition and growing competition for strategic resources, Canada is acting decisively,” he continued. “Not only in what we extract, but in how we build, process, refine, recycle and deliver value across the entire supply chain.”
Guay framed the current moment as a structural shift: “Canada and the world are entering a new era. An era where critical minerals have become a strategic asset — where energy security, economic competitiveness and industrial sovereignty are inseparable from how we develop and manage our natural resources.”
Canada, he argued, is uniquely positioned. It hosts roughly 170 advanced-stage mineral projects, more than half of which are expected to come online in the coming years, spanning rare earths, lithium, copper and graphite.
Combined with a stable governance framework and environmental standards, that resource base gives Canada a “privileged position at home and abroad.”
“Canada is not just rich in resources,” Guay said. “Canada is rich in trust and reliability.”
But Ottawa’s strategy goes beyond extraction. The federal government is pushing to build end-to-end value chains, turning raw materials into processed inputs and advanced products within Canada.
“Our approach is not simply about digging minerals out of the ground,” he said. “It’s about creating good jobs, strengthening rural and northern communities and supporting our industrial and national security needs.”
Critical minerals are now explicitly tied to defense, artificial intelligence and advanced manufacturing, he added. “Their availability is a matter of sovereignty as much as prosperity.”
A key pillar of that strategy is Canada’s Major Projects Office (MPO), established to streamline approvals and coordinate federal decision making on large-scale developments.
Since its creation, Guay said, more than C$116 billion worth of nation-building projects have been referred to the office, including several aimed at advancing critical minerals supply chains.
“These projects will accelerate and anchor Canada’s copper, nickel and tungsten supply chains — minerals fundamental not only to clean technology, but also to defense systems, aerospace and telecommunications,” he said.
Guay stressed that while the MPO aims to provide greater certainty for investors, it will do so while upholding Indigenous rights and strong environmental standards.
The federal government’s 2026 budget further reinforces that direction. Guay noted that the spending plan, recently approved in parliament, introduced a new Critical Minerals Sovereign Fund, which is designed to mobilize private capital and provide anchor investments for strategic projects.
“The goal is simple,” he said. “Provide the certainty needed to get projects over the line.”
As mentioned, the First and Last Mile Fund is also now in action with the aim of closing infrastructure gaps that often stall mining developments, ensuring minerals can reach processors, manufacturers and export markets.
In addition, the government has expanded eligibility for the Critical Mineral Exploration Tax Credit to include 12 further minerals deemed essential for defense, semiconductor and energy technologies.
“Together, these measures serve one clear objective: building more at home than anyone, anywhere else,” Guay said.
Aside from that, he emphasized the importance of alliances.
Canada is working with partners under initiatives such as the Critical Minerals Production Alliance and within the G7 framework to strengthen supply chains and reduce overreliance on dominant producers.
“We are in a context where materials are too often controlled by a few actors, some better than others,” Guay said. “Canada stands ready to be a reliable partner.”
At the center of the federal vision, he said, is reconciliation with Indigenous peoples.
More than 500 Indigenous mining agreements are currently active across the country, formalizing long-term community benefits and social license arrangements.
Indigenous groups are increasingly participating as equity partners and co-managers in resource and infrastructure projects, supported by federal programs, including C$80 million through the Indigenous Natural Resources Partnerships Program, C$13.5 million under a critical minerals infrastructure grants stream and up to C$10 billion in loan guarantees through the Indigenous Loan Guarantee Program.
“This is economic partnership and reconciliation in action,” Guay said.
Guay underscored the global implications of the conversations and deals that happen at PDAC.
“What happens in these rooms does not stay in these rooms,” he said. “These conversations will shape supply chains, energy systems and economic resilience on every continent.”
For Canada, the objective is clear.
“As a strong sovereign country that has chosen to transform its mineral wealth into a strategic national asset, Canada has what the world wants,” Guay said. “We stand ready to lead, ready to partner and ready for business.”
“We are not only preparing for this new global era,” he added. “We are shaping it.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Rick Rule, proprietor at Rule Investment Media, shares updates on his current strategy in the resource space, mentioning gold, silver, oil and agriculture.
He also reminds investors to pay more attention to gold’s underlying drivers than to current events.
Click here to register for the Rule Symposium.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Oil and gas prices extended their sharp climb this week as the escalating conflict between the US, Israel, and Iran disrupts shipping through one of the world’s most critical energy chokepoints.
Crude oil futures surged again on Thursday (March 5), with the US benchmark climbing roughly 3.5 percent to about US$77 per barrel—the highest level in more than a year. Brent crude rose nearly 3 percent to around US$83 per barrel.
The waterway, which separates Iran from the United Arab Emirates (UAE) and Oman, carries roughly one-fifth of the world’s daily oil and liquefied natural gas shipments.
Since the latest wave of hostilities began over the weekend, tanker traffic through the strait has largely stalled, with shipowners reluctant to transit the area amid continued missile attacks and drone strikes.
Energy prices have already surged roughly 15 percent since the conflict intensified. US gasoline prices are beginning to reflect the shock, rising nearly 9 percent in just one week. The average price of a gallon of regular gasoline in the US climbed from US$2.98 before the attacks to about US$3.25, according to AAA.
Financial markets have responded cautiously. Futures for the Dow Jones Industrial Average fell about 0.3 percent ahead of Thursday’s opening bell, while the S&P 500 (INDEXSP:.INX) and Nasdaq Nasdaq Composite (INDEXNASDAQ:.IXIC) futures also edged lower.
If prices remain elevated, analysts warn the surge could complicate the US Federal Reserve’s efforts to tame inflation. Rising energy costs may reduce the likelihood of interest rate cuts this year, keeping borrowing costs higher for longer and potentially slowing economic growth.
‘If the strait were to close for an extended period of time, it would be among the greatest supply shocks in history, and the price of oil undoubtedly would escalate well over US$100,’ analysts from S&P Ratings said in a FocusEconomics update. ‘Given the importance of the strait and the substantial US military presence in the region, it’s highly doubtful the strait could be closed for an extended period of time.”
Meanwhile, supply disruptions are intensifying across the Middle East. Shipping data shows tanker traffic through the Strait of Hormuz has dropped dramatically, falling from about 40 vessels per day earlier this year to virtually none in recent days.
Hundreds of oil and gas carriers are now anchored outside the waterway waiting for the security situation to stabilize.
Attacks on commercial shipping have added to the uncertainty. A tanker anchored near Kuwait reported a large explosion on its port side earlier this week. The vessel reportedly suffered a cargo tank leak, although the crew was unharmed.
Other incidents have also been reported. At least nine vessels have come under attack since the conflict began, including tankers targeted by drones and explosive boats in Gulf waters.
Onshore energy infrastructure has also been affected. Several refineries in the region have cut operations or temporarily halted production, while Iraq reportedly reduced oil output by nearly 1.5 million barrels per day after storage capacity filled up when tankers were unable to load cargo.
Liquefied natural gas markets are also facing additional pressure after QatarEnergy halted production earlier this week and declared force majeure on exports. The state-owned firm is one of the world’s largest LNG suppliers, responsible for roughly 20 percent of global shipments.
European natural gas prices have surged in response, rising roughly 50 percent this week amid concerns that supply disruptions could tighten global markets heading into next winter’s storage season.
Despite the escalating crisis, global equity markets have shown signs of stabilizing. Asian stock markets rebounded Thursday after heavy losses earlier in the week, with South Korea’s KOSPI jumping nearly 10 percent and Japan’s Nikkei 225 (INDEXNIKKEI:NI225) gaining about 1.9 percent.
Governments are also scrambling to stabilize shipping lanes. US President Donald Trump said Washington would offer political risk insurance for tankers attempting to pass through the Strait of Hormuz and indicated that U.S. naval forces could escort commercial vessels if necessary.
Insurance markets are also evaluating potential coverage frameworks for ships willing to transit the area, according to Lloyd’s of London.
“The implications for the global economy will depend largely on the duration and severity of the crisis. The real GDP of major advanced and emerging economies is far less dependent on oil than during past crises,’ Marc-Antoine Dumont, Senior Economist at Desjardins, and Randall Bartlett, Deputy Chief Economist, commented.
‘That said, Asia and China remain more exposed to the consequences of a prolonged disruption in Middle Eastern oil supply. On one hand, the US is now a net exporter of petroleum products, and a sustained increase in prices could even have positive spillovers for investment in the resource sector, which has struggled in recent years.”
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Couloir Capital is pleased to announce that it has initiated research coverage on 55 North Mining Inc. (CSE: FFF,OTC:FFFNF) (or ‘Company’). Couloir Capital’s senior mining analyst, Ron Wortel, MBA, P.Eng., QP, crafted a report titled ‘Initiating Coverage of 55 North Mining as it moves project on production.’
Report excerpts: ‘The Last Hope Gold Project is a high-grade, Precambrian lode-gold system located within Manitoba’s prolific Lynn Lake Greenstone Belt, part of the Churchill Structural Province.’
‘Last Hope benefits from a strategic position within the historic Lynn Lake mining district, a region with established social license, supportive regulatory frameworks, and a deep legacy of gold and base-metal production. The project lies 25 km from Alamos Gold’s fully permitted Lynn Lake development, where construction of an 8,000 tpd mill and 250,000 oz/year operation is underway, with first production targeted for 2029. Management views Last Hope as a potential high-grade satellite feed or toll-milling opportunity that could enhance grade control and improve the IRR of the regional mill project, creating optionality for partnership, consolidation, or a corporate-level transaction.’
The report can be accessed through Couloir Capital’s portal: https://www.couloircapital.com/research-portal.
About Couloir Capital Ltd.
Couloir Capital Ltd. is an investment research firm with a team of experienced investment professionals providing institutional-quality research coverage for small-cap equities. Our research reports are distributed via Bloomberg, FactSet, Capital IQ, LSEG, Research Tree and other platforms, as well as via social media and extensive email distribution lists. To subscribe, visit: https://www.couloircapital.com/research-portal
For further information, please contact:
Rob Stitt, Managing Director, Couloir Capital Ltd.
Email: rstitt@couloircapital.com
www.couloircapital.com
DISCLAIMER:
Analyst Disclosure:
Investors are encouraged to read the complete list of disclosures contained in the report.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286367
News Provided by TMX Newsfile via QuoteMedia
Osisko Metals Incorporated (the ‘Company or ‘Osisko Metals’) (TSX: OM,OTC:OMZNF; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce the appointment of Ms. Victoria Vargas to its board of directors, effective immediately.
Ms. Vargas brings over 25 years of extensive knowledge of the mining industry and North American capital markets, and a wealth of expertise in environmental, social and governance. She has a Bachelor of Arts (Hons. Economics) from Lima (Peru) University and an MBA Finance from Simon Bolivar University in Venezuela.
Ms. Vargas currently serves as the Chief Financial Officer of VMS Mining and is a director and chair of the corporate government relations committee of Lithium Universe Canada. She previously served as Vice President Investor Relations for Minera Alamos Inc., and as a director, chair of the corporate governance and nominating committee and a member of the audit committee of Silver Mountain Resources Inc.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Don Njegovan, President
Email: info@osiskometals.com
Phone: 416-500-4129
News Provided by GlobeNewswire via QuoteMedia
Moderna (NASDAQ:MRNA) has agreed to pay US$950 million to resolve a long-running patent dispute tied to the technology used in its COVID-19 vaccine.
The pharmaceuticals giant announced it has reached a global settlement with Arbutus Biopharma (NASDAQ:ABUS) and Genevant Sciences GmbH over claims that Moderna’s vaccines infringed patents related to lipid nanoparticle (LNP) delivery technology.
The tiny fat-based particles are used to transport mRNA vaccines into human cells.
Under the agreement, Moderna will make a lump-sum payment of US$950 million in the third quarter of 2026 and will not owe royalties on existing or future vaccines. The settlement resolves all litigation worldwide involving the companies.
The case had centered on allegations that Moderna used LNP technology owned by Arbutus and Genevant in its COVID-19 shot without authorization.
Moderna CEO Stéphane Bancel said the settlement clears the path for the company to focus on its pipeline.
“Resolving this legacy matter from our pandemic response removes uncertainty and allows us to turn our full focus to Moderna’s exciting near-term future,” Bancel said in a company statement.
Moderna also said it will continue pursuing an appeal related to its claim of government-contractor immunity under US law, which could further limit its liability.
If the Federal Circuit Court ultimately rules against the company on that issue, Moderna could be required to make an additional payment of up to US$1.3 billion within 90 days of the decision. The company said it has not recorded any additional charge tied to that possibility because it does not consider the loss probable.
The company expects to record a US$950 million charge in the first quarter of 2026 tied to the settlement payment.
Despite the payout, Moderna said it expects to end 2026 with between US$4.5 billion and US$5 billion in cash and cash equivalents. Including access to its credit facility, the company estimates total available liquidity of between US$5.4 billion and US$5.9 billion.
Investors responded positively to the resolution of the dispute, which analysts said removes a major uncertainty hanging over the company. Shares of Moderna rose by as much as 10 percent in premarket trading after the announcement, while Arbutus shares declined
While the agreement resolves Moderna’s dispute with Arbutus and Genevant, the company remains involved in other intellectual property litigation.
Moderna has ongoing legal claims against Pfizer (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) related to mRNA technology used in competing COVID-19 vaccines.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Precious metals prices are down on potential for economic fallout from escalating US-Iran War.
Volatility has returned to the precious metals market this past week. All eyes are on the breakout of a full-scale war across the Middle East prompted by a coordinated assault on Iran by the United States and its ally Israel. Oil prices are up, which means inflation risks are once again on the minds of Federal Reserve board members as they contemplate upcoming interest rate decisions.
Let’s take a look at what’s got the precious metals moving over the past week.
The price of gold is showing remarkable resilience in the face of strong volatility this past seven very eventful days. On Thursday (February 26), the yellow metal managed an intraday high of US$5,200 per ounce, well above the low of US$4,440 per ounce reached in the first few days of February following US President Donald Trump’s nomination of Kevin Warsh, a former Federal Reserve governor, to replace Jerome Powell as the next Fed chair.
Gold continued this upward trend on Friday (February 27) rising to an intraday high of US$5,270 per ounce. Over the weekend, tensions in the Middle East erupted into a full-scale war as the US and Israel launched a massive military campaign targeting multiple locations across Iran. Consequently, Iran quickly escalated the conflict into a large-scale regional war including missile strikes and drone attacks in Israel, Cyprus, the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Kuwait.
The events lit a fire of safe-haven demand for gold, pushing prices up over US$5,400 per ounce on Monday (March 2). However, the yellow metal just as quickly reversed course on profit-taking and dropped as low as US$5,263 per ounce before recovering to a close of US$5,328 per ounce.
By Tuesday (March 3), the precious metal had lost further ground, following slightly below the psychologically important US$5,000 mark during morning trading, before finishing the day at US$5,088 per ounce.
Gold was trading back up at US$5,195 per ounce early Wednesday morning, as investors sought to buy the dip–a sign that strong confidence remains in the long-term bullish outlook for the metal. Gold closed the day at US$5,145.24 per ounce as investors balance safe-haven demand with the potential for higher interest rates for longer.
Gold price chart, February 25, 2026 to March 4, 2026.
Here are the primary drivers for gold this past week:
In other gold news, the World Gold Council reported that for the first time in more than a decade the Bank of Korea will begin investing in overseas-listed physical gold ETFs.
In gold mining sector news, SSR Mining (NASDAQ:SSRM,TSX:SSRM,OTCPL:SSRGF) has agreed to sell its majority stake in the Çöpler gold mine in Turkey for US$1.5 billion in cash.
Silver has also experienced a volatile week of trading influenced by geopolitical tensions and concerns over the Fed’s next monetary policy moves.
Still well below its all-time high of more than US$120 per ounce it reached on January 29, 2026. The white metal traded at an intraday high of US$88.95 Thursday (February 26) before surging as high as US$94.14 per ounce the following day.
For Monday (March 2), silver continued higher to reach US$95.71 per ounce in early morning trading. Tracking gold’s decline, silver prices touched as low as US$86.61 that day before recovering to close at US$89.34 per ounce.
Tuesday’s (March 3) dip saw silver sink as low as US$79.734 per ounce in early morning trading before closing up at US$82.05 per ounce. Silver managed to hold on to those gains Wednesday (March 4) to close the trading day at US$83.56 per ounce
Silver price chart, February 25, 2026 to March 4, 2026.
As the world’s most electrically and thermally conductive metal, silver is still receiving strong support from industrial demand. The entrenched silver supply deficit also continues to provide a floor of support for the metal’s price.
In silver mining news, major silver producer Fresnillo (LSE:FRES,OTCPL:FNLPF), reported earnings before interest, tax, depreciation, and amortization of US$2.80-billion for the 12 months ended December 31, 2025, up more than 80 percent over the previous year. This allowed the company to payout a total of US$950-million, or 128.92 cents per share, to shareholders for 2025.
Platinum prices were trading well above the US$2,200 mark on Thursday (February 26), reaching as high as US$2287.50 per ounce. Friday brought further gains, with the precious metal pushing up past the US$2,400 per ounce level, although only slightly and very briefly.
However, by Monday (March 2) the price of platinum had slid as low as US$2,291.50 in the morning trade before finishing the day at a four-week high of US$2,325.70 per ounce.Tuesday (March 3) brought further volatility for platinum prices as they sank as low as US$2,015.70 as part of a broader liquidation event in the commodities markets. Yet, platinum managed to swing back slightly above the US$2,100 level by the end of the trading day.
Wednesday (March 4) saw platinum hanging on to those gains and moving upward to close at US$2,165.80 per ounce.
Platinum price chart, February 25, 2026 to March 4, 2026.
Platinum prices this week were supported by a March 3 report from the World Platinum Investment Council (WPIC) highlighting the fourth consecutive annual platinum market deficit with a 240,000 ounce shortfall expected in 2026. Although that is much lower than the 1.1 million ounce deficit recorded in 2025.
Demand is being driven by the metal’s essential role in the emerging hydrogen economy. The WPIC reports it sees support for platinum will come from a 7 percent rise in hydrogen stationary applications in 2026.
Palladium also succumbed to the downward trend for precious metals prices this past seven days. On Thursday (February 26), palladium retreated from the one-month highs above the US$1,900 level experienced last week to slip as low as US$1,770.50 per ounce in morning trading and struggled to finish the day close to US$1,800 per ounce. Friday found the metal back up to an intraday high of US$1,856.50 per ounce.
On Monday (March 2), palladium lost ground again, dipping to a low of US$1,781 per ounce before closing out the day at US$1,803 per ounce. However, the following day palladium’s price tracked its sister metals in a runaway slide that brought prices to a low of US$1,631 per ounce. By the end of the trading day it had only managed to claw back to US$1,672 per ounce.
After rebounding to US$1,730 per ounce in early morning trading Wednesday, palladium closed out the day at the US$1,700 level.
Palladium price chart, February 25, 2026 to March 4, 2026.
It seems investors are reassessing palladium’s value with a focus on broader economic risks to industrial demand brought about from potential shipping route closures in the Strait of Hormuz.
Market tightness persists due to output disruptions in South Africa and uncertainty over Russian exports, which provide a partial floor for prices.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Oreterra Metals Corp. (TSXV: OTMC) (OTCID: OTMCF) (OTCID: RMIOD) (FSE: D4R0) (WKN: A421RQ)(‘Oreterra’ or the ‘Company’) is pleased to announce that, further to its press releases of February 10, 2026, February 12, 2026, February 18, 2026, February 19, 2026 and March 2, 2026, it has closed the second and final tranche of its oversubscribed and upsized non-brokered private placement with the placement of 154,444 hard-dollar units (‘HD Units’) of the Company at a price of $0.45 per HD Unit for gross proceeds of $69,500 and the placement of 660,000 flow-through units (‘FT Units’) at a price of $0.50 per FT Unit for gross proceeds of $330,000 (collectively, the ‘Final Closing’). Combined with the first closing of $9.3M, gross proceeds from the placement totaled $9.7M.
Offering Details:
The non-brokered private placement was upsized multiple times to $9,684,000 through the issuance of a combination of $5,500,000 in hard-dollar units (‘HD Units‘) of the Company at a price of $0.45 per HD Unit and $4,184,000 in flow-through units (‘FT Units‘) at a price of $0.50 per FT Unit (collectively, the ‘Offering‘).
Each HD Unit, priced at $0.45, comprised one (1) common share of the Company and one (1) common share purchase warrant (each a ‘HD Warrant‘). Each HD Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.60 per share for three years following the closing of the Offering.
Each FT Unit, priced at $0.50, comprised one (1) flow-through share of the Company (each a ‘FT Share‘) and one (1) common share purchase warrant (each an ‘FT Warrant‘). Each FT Warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.60 per share for three years following the closing of the Offering.
Final Closing Details:
The Company paid one eligible finder a cash commission of $6,900 and issued 13,800 broker warrants (each a ‘Broker Warrant‘). Each Broker Warrant entitles the holder thereof to acquire one additional common share of the Company at an exercise price of $0.60 per share for three years following the closing of the Offering.
Canaccord Genuity Corp. acted as financial advisor to the Company and received 62,777 HD Units as compensation for its $28,250 advisory fee (inclusive of HST).
All securities issued under the Final Closing are subject to a hold period expiring on July 5, 2026.
The securities described herein have not been offered or sold within the United States. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
The FT Shares qualify as ‘flow-through shares’ within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act’). An amount equal to the proceeds received from the issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) ‘Canadian exploration expenses’ (as defined in the Tax Act), and (ii) as ‘flow-through critical mineral mining expenditures’ (as defined in subsection 127(9) of the Tax Act) (collectively, the ‘Qualifying Expenditures‘).
Expenditures in an aggregate amount not less than the proceeds raised from the issue of the FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2027 and will be renounced by the Company to the purchasers of the FT Shares with an effective date no later than December 31, 2026. The net proceeds from the issuance of HD Units will be primarily used for exploration activities at the Company’s Trek property, as well as for general working capital purposes.
Early Warning Disclosure Regarding Anastasios Drivas
Anastasios Drivas (‘Tom Drivas‘) previously filed an early warning report with respect to the securities of Oreterra on July 16, 2025. As a result of an increase in the issued and outstanding capital of Oreterra pursuant to the Offering, including the acquisition by Tom Drivas and affiliates of 690,000 FT Units (the ‘690,000 FT Units‘) pursuant to the Offering and the expiry of 833,333 warrants and 800,000 stock options held by Tom Drivas, the direct and indirect interest of Tom Drivas in Oreterra has been reduced to approximately 7.54% of the issued and outstanding common shares of Oreterra on a non-diluted basis and 8.72% on a partially diluted basis, assuming the exercise of the warrants held directly or indirectly by Tom Drivas. Therefore, Tom Drivas is no longer required to file an early warning report under National Instrument 62-103.
Tom Drivas has advised that the 690,000 FT Units were acquired for investment purposes and that he has no present intention to either increase or decrease his direct or indirect holdings in the Company. Notwithstanding the foregoing, he has advised that he may increase or decrease his beneficial ownership, control or direction over common shares of the Company through market transactions, private agreements, other treasury issuances or otherwise.
This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of this early warning report in respect of this transaction will be available on Oreterra’s issuer profile on SEDAR+ at www.sedarplus.ca.
Adoption of the 2025 Stock Option Plan
At the Annual General and Special Meeting of Shareholders of the Company held on January 16, 2026, the Shareholders adopted the new 2025 Stock Option Plan (the ‘2025 SOP‘). The 2025 SOP was appended to the Company’s Management Information Circular (the ‘Information Circular‘) dated November 28, 2025 as Schedule ‘C’, a copy of which Information Circular was filed on sedarplus.com on December 10, 2025. All changes to the 2017 Stock Option Plan made pursuant to the 2025 SOP are set out in a black-lined version of the 2025 SOP appended as Schedule ‘D’ to the Information Circular. The Company wishes to bring to the attention of shareholders the following amendments to the 2017 Stock Option Plan resulting from the adoption of the 2025 SOP. The 2025 SOP requires that the Company obtain disinterested shareholder approval of any decrease in the exercise price of or extensions to any stock options granted to individuals that are insiders at the time of the proposed amendment. In addition, the 2025 SOP clarifies the fact that any option that has an expiry date that occurs within ten (10) Business Days from the end of a Blackout Period shall not be extended and shall expire if unexercised by the original expiry date.
In addition, the amendments to the 2025 SOP provide that both the Company and any Optionee that is an Employee or Consultant are responsible for ensuring that such Optionee is a bone fide Employee or Consultant of the Company and that any adjustments to options, other than pursuant to a stock split or consolidation, are subject to prior acceptance by the TSX Venture Exchange. Other minor clarifications with respect to the 10% limit applicable to Insiders and limits on options granted to persons providing investor relations services in the event of an acceleration of the Expiry Date are reflected in the 2025 SOP.
About Oreterra Metals Corp.
Oreterra Metals Corp. commenced trading on February 2, 2026, under the new ticker OTMC, following a months-long effort to restructure the former Romios Gold Resources Inc. Management took on the task because it believes the Company’s wholly-owned Trek South porphyry copper-gold prospect represents, based upon the impressive results of the spectrum of geosciences applied to the target area to date, among the finest new targets of its kind in BC’s Golden Triangle. The Company recently released (news, January 22, 2026) a National Instrument 43-101 Technical Report for the Trek property which recommends two initial phases of drilling at Trek South, for execution in the approaching 2026 field season. A copy of the Technical Report is available on the Company’s website at www.oreterra.com, and on the Company’s SEDAR+ issuer profile at www.sedarplus.com.
Additional wholly-owned Company property interests include two former producers in Nevada: the Kinkaid claims in the Walker Lane trend covering numerous shallow Au-Ag-Cu workings over what is believed to be one or more porphyry centres (source: J.Biczok, P.Geo, June 2025, Kinkaid Gold-Copper-Silver Project, www.oreterra.com), and the Scossa mine property in the Sleeper trend which is a former high-grade gold producer (source: J.Biczok, P.Geo, July 2025, Scossa Historic Gold Mine Property, www.oreterra.com). The Company also holds a 100% interest in the large Lundmark-Akow Lake Au-Cu property adjacent to the northwest of the Musselwhite Mine in northwestern Ontario, where drilling by the Company has produced highly encouraging, broad VMS-style Au-Cu intersections.
For further information, visit www.oreterra.com or contact:
| Kevin M. Keough Chief Executive Officer Tel: 613 622-1916 Email: kkeough@oreterra.com |
Stephen Burega President Tel: 647 515-3734 Email: sburega@oreterra.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain ‘forward-looking statements’ which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as ‘believes’, ‘anticipates’, ‘expects’, ‘estimates’, ‘may’, ‘could’, ‘would’, ‘will’, or ‘plan’. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
NOT FOR DISSEMINATION, DISTRIBUTION, RELEASE, OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286347
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New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (‘New Found Gold’ or the ‘Company’) is pleased to announce that it has entered into a non-binding term sheet for an up to US$75,000,000 loan facility (the ‘Loan Facility’).
The proceeds from the Loan Facility will be used as financing for the development of the Company’s 100% owned Queensway Gold Project (‘Queensway‘ or the ‘Project‘) in Newfoundland and Labrador, Canada, including the procurement of long lead items, early construction activities, upgrading and expanding the Company’s 100% owned Pine Cove Mill to accommodate Queensway Phase 1 off-site milling, and general working capital purposes. The Loan Facility, alongside cashflow from the Hammerdown Gold Project (‘Hammerdown‘), is an important component of the Company’s overall finance strategy.
‘We are pleased to enter into the term sheet for this debt financing, which will support Phase 1 of our flagship Queensway Gold Project and enable us to remain on track with the development timeline outlined in our 2025 PEA,’ commented Keith Boyle, CEO of New Found Gold. ‘Once the Loan Facility is in place, we will be well capitalized as we advance towards a formal construction decision later this year, taking us closer to production at Queensway, which showcases a solid low-cost production profile via a phased mine plan, near-term cash flow generation and significant upside through exploration, as we aim for first production in late 2027.’1
Pursuant to the non-binding term sheet, the Loan Facility will be documented by way of a senior secured debenture and advanced in two tranches: US$50,000,000 to be funded at closing (‘Tranche 1‘) and, subject to the satisfaction of certain conditions and if required by the Company, an additional US$25,000,000 to be funded no later than 15 months after closing (‘Tranche 2‘) at no additional standby fee. Both tranches will be subject to customary arrangement fees. The Loan Facility will bear interest at a fixed annual rate of 9.25% payable quarterly in arrears and will have a term of 24 months, and will be subject to a quarterly administration fee based on a fixed annual fee of 0.50%. The Company will have the option to extend the term by an additional six months. The funds to be advanced reflect principal amounts subject to an original issue discount, which will increase if the term is extended.
In connection with the Loan Facility and subject to the approval of the TSX Venture Exchange (‘TSXV‘), the Company will issue to Nebari Natural Resources Credit Fund II, LP (the ‘Lender‘) at closing non-transferable warrants for the purchase of common shares in the Company. The warrants issued in connection with Tranche 1 will have an aggregate value of US$3,750,000, and the warrants issued in connection with Tranche 2 will have an aggregate value of US$1,875,000. Each warrant will be exercisable for one common share of the Company at an exercise price equal to a 25% premium to the lower of the volume weighted average price of the common shares of the Company on the TSXV for the 20 trading days prior to (a) the date hereof, and (b) the date the warrants are issued, provided that the exercise price will not be below the market price as determined by the TSXV. The warrants will be exercisable for a period of 24 months following closing. If the Company extends the term of the loan by an additional six months, the expiration date of the warrants will also be extended by six months if permitted by the TSXV.
All direct and indirect subsidiaries of the Company will guarantee the Loan Facility. The Company and such guarantors will secure the Loan Facility with first-lien security interests over all of their present and after-acquired real and personal property.
The provision of the Loan Facility remains subject to customary conditions precedent, such as the negotiation, execution, delivery and registration of definitive financing documents, completion of due diligence to the Lender’s satisfaction, receipt of all necessary corporate and regulatory approvals (including approval of the TSXV), and approval by the Lender’s Investment Committee. The term sheet includes a mutual break fee in the event of a termination by either party prior to closing.
Cutfield Freeman & Co. Ltd. (‘CF&Co‘), an independent global mining finance advisory firm, is acting as financial advisors to the Company in relation to the Loan Facility and its overall project finance strategy (see the New Found Gold press release dated November 28, 2025).
The Company appreciates the interest from other finance providers who were willing to support New Found Gold and were eager to be part of our Company’s growth.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of warrants in any state in which such offer, solicitation or sale would be unlawful. The warrants have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act, and applicable state securities laws.
About New Found Gold Corp.
New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and Hammerdown, which includes the Hammerdown deposit and fully permitted milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.
In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.
Through 2025 New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.
Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp.
Contact
For further information on New Found Gold contact us through our investor inquiry form at https://newfoundgold.ca/contact/ or contact:
Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: contact@newfoundgold.ca
Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp and https://x.com/newfoundgold.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This press release contains certain ‘forward-looking statements’ within the meaning of Canadian and United States securities legislation, including statements regarding the non-binding term sheet for the Loan Facility; the proposed terms of the Loan Facility, including the amounts to be funded and the timing thereof; the arrangement and administration fees; the interest rate; the term of the Loan Facility; the terms of the warrants to be issued in connection with the Loan Facility, including the aggregate value of each tranche, the calculation of the exercise price and the exercise period; the guarantees and security interests to be granted in connection with the Loan Facility; the expected use of proceeds; the Company’s overall finance strategy; the Company’s advancement towards a formal construction decision at Queensway; the future production at Queensway; and the Company’s focus on growth and value creation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘interpreted’, ‘intends’, ‘estimates’, ‘projects’, ‘aims’, ‘suggests’, ‘indicate’, ‘often’, ‘target’, ‘future’, ‘likely’, ‘pending’, ‘potential’, ‘encouraging’, ‘goal’, ‘objective’, ‘prospective’, ‘possibly’, ‘preliminary’, and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘can’, ‘could’ or ‘should’ occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange and NYSE American, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company’s ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s Annual Information Form and Management’s Discussion and Analysis, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca and on the website of the United States Securities and Exchange Commission at www.sec.gov for a more complete discussion of such risk factors and their potential effects.
1 See the New Found Gold technical report titled ‘NI 43-101 Technical Report for the Queensway Gold Project, Newfoundland and Labrador, Canada’, dated Sept. 2, 2025 prepared by SLR Consulting (Canada) Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286276
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